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BOI Reporting Due Under CTA Once Again on Hold
-Caution: This is an ongoing legal development; material changes may occur after publishing time, which may affect filing requirements. Hence this article is not legal, accounting or other advice. For updated information, please check www.fincen.gov/boi
The controversial requirement for practically all businesses, including smallest single-owner ones, to register with the Financial Crimes Enforcement Network by January 1st 2025, is once again, on hold. The law, pushed by Democrats and opposed by Republicans, could turn millions of small business owners into felons, if allowed to go into effect. This would obviously have a chilling effect on entrepreneurship in America.
https://www.nsbaadvocate.org/post/news-boi-reporting-due-under-cta-once-again-on-hold