Is BOI reporting dead on arrival? We dive into this question and more on the latest Federal Tax Updates podcast episode.
We're talking about a ruling that has the tax and accounting world buzzing: A Federal Court has deemed The Corporate Transparency Act unconstitutional.
The decision, rooted in a challenge to the legislative branch's power under the Commerce Clause, not only shakes the foundation of FinCEN's beneficial ownership reporting but also poses questions about the future of this new federal reporting regime for small businesses.
Roger Harris and I dissect the nuances of the ruling, its limitations, and the practical implications for tax pros.
Tune in here: https://federaltaxupdates.com/episodes/excerpt-corporate-transparency-act-ruled-unconstitutional
