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Treasury Halts Enforcement of Business Ownership Reporting Rule

  • The Trump administration announced the end of a regulation requiring business owners to report personal data to the federal government, deeming it an "outrageous" burden on small businesses.
  • The Treasury Department will not enforce penalties for domestic companies under the Corporate Transparency Act while allowing enforcement against foreign companies.
  • Senator Tim Scott stated that small businesses need necessary time to comply with federal reporting requirements, emphasizing their importance to the economy.
  • Treasury Secretary Scott Bessent called this decision a "victory for common sense," as it aims to support hardworking American taxpayers and small businesses.
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The OregonianThe Oregonian

Trump administration ends enforcement of small business ownership database

The U.S. Treasury Department announced it will not enforce a Biden-era small business rule intended to curb money laundering and shell company formation.

·Portland, United States
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CNBCCNBC

Treasury Department suspends enforcement of ownership information reporting for millions of businesses

The Treasury Department has halted enforcement of beneficial ownership information, or BOI, reporting for millions of businesses.

·United States
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natlawreview.comnatlawreview.com

Out With a Bang: Treasury Restricts Corporate Transparency Act to Foreign Reporting Companies

The Treasury Department has suspended the March 21, 2025, Corporate Transparency Act filing deadline for U.S. companies, proposing to limit the rule to foreign repor

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The Business JournalsThe Business Journals

Trump administration scraps mandate for most businesses, vows new rule - Triad Business Journal

A mandate that applies to millions of small businesses will no longer take effect in March, but a new rule could be coming. Here's what businesses need to know.

·United States
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EntrepreneurEntrepreneur

Treasury Department Will Not Enforce BOI Requirements for U.S. Small Businesses. Here's What to Know.

Do you have to file the BOI report? The U.S. Treasury Department stated on Sunday that it would not enforce the BOI reporting requirement for U.S. citizens and domestic companies.

·San Francisco, United States
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WLTReportWLTReport

BREAKING: Biden's Invasive BOI Reporting Obligation Is Dead, Killed By Trump, Bessent and Treasury Department

NOTE: nothing in this article shall be deemed as provided personalized financial advice, legal advice, tax advice or any other advice of any kind.  You should consult with your personal legal, tax and financial advisors to determine what is best for your personal situation.This is absolutely incredible! If you don’t run a small business (or a business of any kind) you may not have been aware of this, but the Biden Regime put into place a new fed…

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agri-pulse.com broke the news in on Sunday, March 2, 2025.
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