Posted on 12/18/2023 3:45:19 PM PST by Twotone
Oh, geesh. Just what I need another form to fill out and more government intrusion. Contacting my reps on this. Nothing will be done, I’m sure.
So happy to be out of business and retired. I still have dreams though they come after me for some obscure non-compliance issue. Same dream as forgetting your last test or showing up at school buck naked.
In the words of Elon, GFY.
“The package passed through Congress with broad bipartisan support before being vetoed by then-President Donald J. Trump. Both houses of Congress voted to override the veto.”
The UniParty in action.
We might as well live in Cold War Europe.
Lots of business already burdened with “OFAC SDN” list checks (i.e. car dealers have to run an OFAC check on all car buyers). Bogus red tape!
https://alessa.com/blog/ofac-screening-requirements-compliance/
The big ones are easier to socialize.
It appears to basically be businesses that are LLCs or corporations.
If you don’t file paperwork with a secretary of state to be a business, and not an LLC or corporation, it doesn’t seem to affect you.
More here:
https://www.fincen.gov/sites/default/files/shared/BOI_Small_Compliance_Guide_FINAL_Sept_508C.pdf
You just mentioned my three nightmares.
Tax issues, forgetting to attend a college final, and somehow forgetting my clothes and winding up in class.
I just got that notice. Lucky me. Only another few days of tax documents I need to fill out for “my own good.”
I’m a solopreneur with an LLC. I met with a new CPA and he’d never heard of this thing. I hope Trump gets in and helps destroy it.
“And if 30 million of the 32 million small businesses don’t comply, simply because they don’t know about it…what are they going to do, arrest 30 million people?”
No. Probably just fines with interest accrued... like the IRS does. And liens against the business owner, forcing compliance and/or bankruptcy.
You can bet that Robinson Walker, LLC; Owasco, LLC; Hudson West III, LLC; Rosemont Seneca Bohai, LLC, and Rosemont Seneca Partners are all exempt from this.
Thanks y’all.
BKMK
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