The latest information on BOI Reporting Requirements and what to do now.
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A Federal District Court in Texas has found that the act is likely unconstitutional, and issued an order prohibiting the act and the beneficial ownership information rule altogether.
However, FINCEN, who mandates the BOI rule, has stated that the Department of Treasury is appealing this order, leaving millions of business owners wondering whether or not they need to file this report or not.
So as a licensed CPA that has reviewed this court order in detail, and as someone who tax plans everyday for business owners at mycpacoach.com, I want to help you understand the potential implications of this ruling for you, so let's dive in.
