Lavelle Law Seminar examines new reporting law for businesses

Schaumburg-based Lavelle Law will host another Breakfast Briefs seminar on Wednesday, February 21 highlighting the new Corporate Transparency Act (CTA). The CTA has a direct impact on many privately held businesses in the area.

“The federal Corporate Transparency Act went into effect on January 1 and establishes a requirement for many businesses to submit a timely Beneficial Ownership Information report to the U.S. Treasury’s Financial Crimes and Enforcement Network,” said Lavelle Law Shareholder Steven Migala who will serve as one of the hosts for the event. “While it is a one-time initial filing requirement, there will be substantial penalties for those who do not comply.”

There is no charge for the event, but registration is required. Doors will open at 7:45 a.m. for a complimentary continental breakfast and the presentation will begin at 8:00. Registration can be completed at https://bit.ly/3UcnJje. CPAs can earn CPE credits by attending.

Joining Migala will be joined by Lavelle Law Associate Frank Portera. Portera manages the Corporate Compliance Practice Group at Lavelle Law and works closely with business owners on compliance issues.

“I am advising my clients and their advisors to attend this seminar,” said Portera. “We’ll discuss which business entities must file and when, as well as the information that is required to complete the Beneficial Ownership Information report.”

The event will take place at 1933 North Meacham Road, Suite 127 in Schaumburg.

For information about Lavelle Law, visit www.lavellelaw.com.

Lavelle Law maintains offices in Schaumburg and downtown Chicago. The firm was founded in 1989 as a single attorney practice with an emphasis on tax law. The firm has added more than a dozen practice groups including Estate Planning, Business Law, Litigation, Divorce and Family Law, Commercial and Residential Real Estate, and Law Practice Consulting. The firm has received numerous awards and commendations for its business success, its commitment to ethics, national recognition for its pro bono services, and multiple acknowledgments of the charitable work it does in its local communities. For more information, visit www.lavellelaw.com or follow Lavelle Law on Twitter, Facebook, Instagram, and LinkedIn.