FINCEN BOI REPORTING

[Jim-from-Ohio]

Getting closer to year end and the looming FINCEN reporting.. found this as a recent update:

How likely is it that the CTA will be overturned?

Currently, two bills are calling for the repeal of the CTA. Congressman Warren Davidson (R-OH) introduced HR 8147 on April 29, 2024, in the U.S. House of Representatives, followed by U.S. Senator Tommy Tuberville’s legislation (S 4297) introduced on May 9, 2024, to overturn the law, citing that it represents “big-government overreach at its worse.” Over 100 trade organizations—including the National Federation of Independent Business, National Franchisee Association, and Small Business & Entrepreneurship Council—support the repeal efforts.

Will these bills pass in the Senate and House? If so, will the President approve them? When can we expect to know?

These remain uncertainties, and like anything else that requires Congressional attention, we may be waiting and wondering for a while!

[PATAX]

I think it will be repealed, as It is an election year and common sense may prevail.

[Jim-from-Ohio]

and we all know who is for big brother reporting and who is against it.. so please vote

[IRonMaN]

Oh, I always do vote.  But as a side note, if you want someone to coach a Senate football game, Tuberville is your man.  But if you want someone to get this legislation killed, I think he would barely make my list of the top 100 potential senators to get it done.

[PATAX]

Hopefully the two senators from the Keystone State do the right thing and vote to repeal it. They both claim to be for the little guy and small businesses.