Beneficial Ownership tax filing now required under penalty?

   / Beneficial Ownership tax filing now required under penalty? #1  

ultrarunner

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Cat D3, Deere 110 TLB, Kubota BX23 and L3800 and RTV900 with restored 1948 Deere M, 1949 Farmall Cub, 1953 Ford Jubliee and 1957 Ford 740 Row Crop, Craftsman Mower, Deere 350C Dozer 50 assorted vehicles from 1905 to 2006
New Tax Filing Required?

Beneficial Ownership Information Report deadline is January 1st, 2025. Failure to file before this deadline will result in penalties of up to $500 per day.

Is this legit?
 
   / Beneficial Ownership tax filing now required under penalty?
  • Thread Starter
#3  
Never heard of this…..whos it benifiting
It’s a new law requiring filing picture identification if you own a company under certain structures like a LLC.

I know a few that own say a small LLC farm or one duplex or a 4 unit rental under a LLC and with the deadline fast approaching it’s the subject of talk as exactly who is required to file.

Just wondering if other TBN members can shed some light…
 
   / Beneficial Ownership tax filing now required under penalty? #4  
You might want to google it. It looks like there is plenty to check out.
 
   / Beneficial Ownership tax filing now required under penalty? #5  
Sounds like they are trying to shed light on money laundering or shell corporations.
 
   / Beneficial Ownership tax filing now required under penalty?
  • Thread Starter
#6  
Something to do with that is my guess…

The penalties are no joke and government photo id required and must be updated when renewed…

I know seniors with no passport or drivers license…

Seems like over reach but what do I know?
 
   / Beneficial Ownership tax filing now required under penalty? #8  
Gotta find those Russian Olegarchs
 
   / Beneficial Ownership tax filing now required under penalty? #9  
New Tax Filing Required?

Beneficial Ownership Information Report deadline is January 1st, 2025. Failure to file before this deadline will result in penalties of up to $500 per day.

Is this legit?
huh?
 
   / Beneficial Ownership tax filing now required under penalty? #10  
Is this a california thing?
 

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