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Big win for privacy here for small business owners. The BOI reporting requirement is off under guidance directly from the Treasury.

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Why doesn't Congress repeal this trash?

They still can, this provides more time for that to get that done.

Although maybe they punt because Treasury has taken the pressure off.

how much does this hold up? is this more a promise that people won't be charged lots of money for not complying?

For now, but they have said more clear guidance will be coming for what is needed from foreign entities.