The Deep State like big business only.
The end goal is government ownership of the means of production, or communism. This is a medium sized step towards their goal.
Was just talking about this with my friend from China (legal). She owned a business there and had similar experiences. The unannounced visits were the worse.
“Guilty until proven innocent.”
Just another plan by these slimy greaseballs to help kill American productivity. Whadda sorry bunch of commie arseholes. Just shut it all down and quit paying taxes to these low- life bassturds.
I’m not reading all that just to conclude biden’s handlers are screwing Americans again.
Lond winded article written by a non-writer.
Be consise and just explain 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?
PFL
So will this include the cartels or white collar criminals like Joke Biden? Since the govt is all about fighting money laundering, right?
Maybe it is time to shut down my small business.
This is how National Socialism worked. “You can own your business, but we’ll tell you how to run it.” Cue the Gauleiters.
Here is the issue. They not only want direct ownership, they want anyone who has control over the business. Does the wife gave indirect control? How about the office manager? The uncle who financed the business? The landlord who gets income based on receipts?
Get it wrong and the penalties start at $500 per day and possible jail time.
Interesting that this may give new IRS agents something to do too?
And the reason is to keep Putin away. Like a 10k fine is a deterrent.
I smell obama.
Big government overreach.
“the burden of this rule falls primarily on small businesses, including solopreneurs (aka one-person entities)”
Not giving legal advice, but I think this does not apply to “solopreneurs” who do business under an assumed name (aka DBA). The normal reason for incorporating or forming an LLC is to protect personal assets from liability if the business is sued (or fined, etc.). Many companies are not set up correctly, leaving their owners susceptible to lawsuits, etc. which is known as “piercing the veil.”
It’s obvious big government needs to be downsized by 3/4 at least. I used to think 1/2 would be enough but I can now see that’s not enough.
the USA already has very complex regulatory rules around banking and financial transfers. Large banks literally have thousands of people in “compliance” already. International banking is already highly regulated
Its more dead weight and bloat on the economy, which will contribute to our growing 3rd world status
And most often via extortion of one flavor or another.
*SPIT*
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.