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BOI filing

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6.9K views 85 replies 23 participants last post by  Tom M  
T
#1 ·
Got wind of this through guys here asked the accountant in the spring and got a link for my own exploration. I blew it off until this week when someone asked me in a panic about it.

I reached out to the accountant which is exempt and they are instructed not to assist in this. Thats frigging odd. I got stuck filling because the form asks about last name, first name and birthdate and I USE A FIRM.
So typical gov sketchy nonsense
 
N
#36 ·
Not a chance in hell we were going to file this. Total invasion of privacy and piercing the corporate veil. Not to mention the sleazy scammer CPA's trying to charge business owners $3-500 to file a simple form and pressure them just for the bs revenue. Always knew even in the pre November state of this country this was going to be killed. It just goes too far. A bit shocked and sad to see the amount of people that complied with it but it's like the clot shot. Anything from the government and mindless compliance.
 
#37 ·
Again. Know the constitution And your rights. The admi istrative state has been handed a devastating ruling with the Chevron Deference decision and them writing rules and regulations that they treat as real law is coming to an end. Now the biggest task forward is to nullify the 10s of thousands of these rules to kill off the over burdoning regulations they imposed on us withought the permission of congress which is the only body that can make bills that the president can sign into law.
 
T
#39 ·
Big Johnson said:
SCOTUS is going to reverse the lower court’s ruling.



Under the Corporate Transparency Act (CTA), P.L. 116-283, which Congress passed in 2021 as an anti-money-laundering initiative, reporting companies must disclose the identity and information about beneficial owners of the entities.
Click to expand...
Congress can pass any bill they want, the President can sign it into law, if the law is unconstitutional the Supreme Court will strike it down.

Tom
 
#42 ·
Especially since the defeat of the Chevron Deference.
 
U
#46 ·
I agree that, being explicitly contained in legislation passed by congress, this is not the type of "regulatory overreach" rule that the SC is likely to strike down, and Chevron deference (or lack thereof) doesn't really come into it for that reason as well. Maybe I'll be pleasantly surprised. One avenue could be that this is dealing with entities that are almost exclusively created under laws of individual states- perhaps outside the federal gov's scope, certainly if the company is only transacting business in a single state. It's just a terrible law that never should have been passed, but gets pushed through congress with "why do you want to make it easy for drug dealers to hide the money they make from killing our babies" type of emotional BS.

That said, this was passed in 2021- a very different time politically in the US. I am hopeful that, if it is upheld, the incoming administration will a) deprioritize enforcement so, at least for the time being, the relevant agencies won't go out of their way to find and punish those who ignore it and b) push a relatively friendly congress to reconsider this and either repeal the whole law or at least remove the teeth when it comes to truly small businesses.
 
#49 ·
Injunction was lifted, due by the 13th. My lawyers filing mine next week. I hope whoever came up with it or has anything to do with it dies of bleeding piles for being a commie red coat POS. Hopefully the new administration puts the IRS back in their place and sacks about 70% of the agency
 
#50 ·
It's unconstitutional again.

 
#51 ·
T
#56 ·
Looks like the new administration is doing away with BOI for domestic companies.

FinCEN.gov

WASHINGTON––Today, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines...
www.fincen.gov www.fincen.gov

Tom
 
#57 ·
#60 ·
DBA. Everyone told me I had to do it. But I didn't. So I don't know if I was required or not. Either way I didn't and won't. I think having the little businesses be guilty of laundering money as a default from the govt perspective is just awful. No innocent until proven guilty in that rule. And then to let the biggest of the corps who have the most and easiest time laundering money be exempt from the ruling is just ridiculous.

The ruling is unconstitutional because it assumes you are guilty of something and the govt needs to watch over you to make sure they have every opportunity to catch you in the act.
 
#62 ·
I'm dba an my account said his understanding was that I didn't have to file. I'm with Leo, this thing stinks to high heaven. Excludes the exact people they should be going after. Talk about penny wise pound foolish. How much do they expect each of the 88k new audutors to come up with from small business.

A contractor here got audited 5 out of 7 years. He finally snapped at they guy and asked him why he keep getting targeted. Guy point blank said they go after the small guys because they get scared and pay. All the med/large companies have lawyers so way more time/work.

Yes, I agree with them auditing the corruption.
 
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