In the latest episode of If Walls Could Talk, W&C Publisher Jill Bloom interviews Adams & Reese Partner Trent Cotney about the implications of the Corporate Transparency Act. Cotney emphasizes that the Act mandates contractors to file crucial paperwork accurately, as errors can lead to severe consequences. The Act requires small businesses, including those with foreign ties, to disclose beneficial ownership to FINCEN, urging contractors to integrate this process into their regular tax procedures and seek guidance from their CPA to ensure compliance.