Congress Passed a Money Laundering Law. Interest Groups Are Still Fighting It.

The countdown continues for hashtag#FinCEN hashtag#BOI reporting, which is supposed to start Jan. 1, 2024. However, with less than 15 days remaining, hashtag#FinCEN still has not published the hashtag#BOI reporting form.

hashtag#FinCEN estimates that over 32 million - I repeat, 32 million - initial hashtag#BOI reports will be filed in 2024, but no hashtag#BOI form available yet. This reporting requirement is going to impact a lot of hashtag#LLC and S-corp business owners most of whom are not even aware of the law or the requirements.

Is anybody willing to take bets that hashtag#FinCEN doesn't have the hashtag#BOI form ready by Jan. 1, or will hashtag#Santa surprise us? 

In the meantime, here is a great article from hashtag#NYTimes writer Kate Kelly for holdouts: the requirement is found unconstitutional. It's a long shot...

https://www.nytimes.com/2023/12/07/us/politics/corporate-transparency-act-lobbying.html?hpgrp=ar-abar&smid=li-share