Is anyone aware of the new IRS Beneficial Ownership Reporting requirements?
vph-d
vph-d
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Yes, my lawyer told me I have to file for my rental property LLC. It's supposed to be no big deal, an effort to lift the veil of shell companies used for tax evasion and money laundering.AMCA #41287
1971 Sprint SS350 project
1972 FX Boattail Night Train
1972 Sportster project
1973 HD Golf Cart project
1979 FXS 1200 never done playing
1989 Springer Softail project
1998 Dyna Convertible - 100% Original
96" Evo Softail self built chopper
2020 Heritage Classic 114
plus 15 other bikes over the years... -
Will be very troublesome if you don't file.Comment
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Since Chapters are now LLCs, it seems we will all have to report.
vph-dComment
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could this be why the govt recently hired all the new IRS agents ? 87,000 of them. a new pattern seems to be developing here. its not just about the big corporations.Comment
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I just found out this will require all Chapter Officers to report, not just the LLC owner.
vph-dComment
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Before this thread gets out of control, the BOI requirements may not apply to the AMCA or its many Chapters. The AMCA and its Chapters are non-profit corporations registered in the states where they are located. None of these entities have issued stock and no one individual or individuals control ownership. I am not expressing a legal opinion but a brief reading of the law does not indicate the AMCA or its Chapters have to comply with the BOI. The AMCA Board may want to confirm what I just posted.Last edited by Spag; 08-31-2024, 05:44 AM.Richard Spagnolli
AMCA #6153Comment
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That's a great idea, Spag...
vph-d
John GraffComment
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AMCA Pres John Markley has some people looking into this ruling, and it's effect on the Club.
vph-dComment
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