What does that have to do with anything? Report on time and there is no fine. You have argument as to how this hindered american business at all. The IRS already has your drivers license and EIN so it's not like your are giving your info to an unknown entity. All revoking this rule does is hide the jews that own and control major corporations from the shadows. Prove me wrong.
The IRS already has your drivers license
Then why do they request it in this new demand with mere weeks notice?
Maybe you missed my edit to my last comment? IRS can GTFO of my personal details and just do what they are supposed to do, verify that I am paying the correct amount of tax on my business profit.
Maybe you missed my edit to my last comment? IRS can GTFO of my personal details and just do what they are supposed to do, verify that I am paying the correct amount of tax on my business profit.
I agree with you on the IRS. But the thing is this rule was actually a good thing. As you should have noticed the corporate transparency act is still a thing. They just stripped out the only part that would actually verify the foreign entities that are actually running these big corporations. Yes more paper work for avg Americans like you and I... BUT... In the long run we would have found out who actually owns the huge corporations (example being the huge energy monopolies) that all have a fake "american" front man on their wiki page and all of their websites.
I thought the 2021 version was set up to capture the big foreign entities, this 2024 change captures small American owned mom and pop level businesses too.
Trump's Treasury has rescinded that 2024 addition of small corporation compliance, so it's essentially reverted back to the original 2021 act, or at least that was my interpretation - so the large corporations still have to comply with the 2021 act.
There is no such thing as "Small Business Corporate Transparency Act". I also didn't see anything in the article relating to 2024 additions or changes. It's merely informing you of who has to fill out the BO forms and why. Which doesn't matter anyway because the got rid of it for all Domestic Reporting Companies, which inherently includes all US small businesses, they just added the U.S. Citizen part to make it seem like a good thing.
There isn't 2 seperate acts nor was there anything added in 2024. The CTA was passed in 2021. It was paused in early Dec 2024 reinstated later that month. The only thing that has changed is the deadline.
Long story short. Everyone will cheer "winning" because they don't have to fill out a form that has no more info on it than a 1099, while israel continues to be able to hide their ownership of "american" companies.
Maybe this will add more context to my other comment
Beneficial owner is a person or entity who ultimately owns or controls an interest in a legal entity, such as a security , property, or interest in a trust .
In the Securities context, for example, individuals who are beneficial owners of more than 5% of any class of a public company’s stock must file a Schedule 13D or Schedule 13G . Securities Act Rule 13d-3 defines “beneficial owner” as “any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares: (1) Voting power which includes the power to vote, or to direct the voting of, such security; and/or, (2) Investment power which includes the power to dispose, or to direct the disposition of, such security.”
At its core, beneficial ownership is about understanding who really holds the power and financial interest in a business. It refers to the individual or entity that ultimately benefits from the business, even if the business is in someone else’s name. This beneficial owner definition might sound straightforward, but the reality is often more complex, especially in businesses with layered ownership structures or those held in trusts.
Yes, they tagged me, I have 100% ownership of my corporations. Learned my expensive lesson long ago, NO PARTNERS!!
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