Within one month of each other, two federal judges ruled that a law passed by Congress is “likely unconstitutional” and ruled in favor of small businesses.
At issue is the Corporate Transparency Act, which Congress passed in 2021, overriding a veto issued by then President Donald Trump. The law requires entities incorporated under state law to disclose the personal information of their stakeholders, including current address, identification documents, and other sensitive information, to the Department of the Treasury’s Financial Crimes Enforcement Network.
FTF. Overreaching power grab
ReplyDeleteJD
“likely unconstitutional” Don't they know?
ReplyDeleteThis is the result of the feminine penis and avoidance of crime statistics.
DeleteI would like to know how to "unregister" now that it has been reversed.
ReplyDeleteYou and me both. Every business I talked to thought it was BS since the Feds and the states have every damn stat on every damn business already.
DeleteSame here. I literally just registered about 6 weeks ago on the advice on my accountant who said to keep off the IRS's radar. Now I want to undo it. I'm sure that would put me on their radar however.
DeleteI shut down my LLC over this / FINCEN. I was also tired of reporting, reporting, reporting. It was a dagger in the night and I'm not waiting for the next one.
ReplyDelete- Arc
S-Corp, one shareholder, one employee. Never filed. Fuck them
ReplyDeleteFrank G
With a Dec 31 deadline, why did they wait until after Christmas to rule? Most people who actually knew about this have already given up their information. What are the chances that database will be erased?
ReplyDelete