I spent the first five years of my career working to pass the Corporate Transparency Act. The bill was very careful and supported by every major Republican, including the Trump Administration and Steve Mnuchin. The compliance burdens are *tiny*. The only goal here is to help people launder money.
Reposted from
Chye-Ching Huang
1/ Treasury Secretary Bessent’s decision (home.treasury.gov/news/press-r...) to not enforce most of the Corporate Transparency Act on a permanent basis will encourage financial crimes using shell companies, including money laundering, terrorism, sanctions evasion, and tax evasion.
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