New IRS Reporting

[vph-d]

Is anyone aware of the new IRS Beneficial Ownership Reporting requirements?
vph-d

[joe fxs fxr]

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.

[tomfiii]

Will be very troublesome if you don't file.

[DEEBS47Chief1991]

what.jpg who.jpg

[vph-d]

Since Chapters are now LLCs, it seems we will all have to report.
vph-d

[ChiefTwoKicks]

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.

[vph-d]

I just found out this will require all Chapter Officers to report, not just the LLC owner.
vph-d

[Spag]

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.

[vph-d]

That's a great idea, Spag...
vph-d
John Graff

[vph-d]

AMCA Pres John Markley has some people looking into this ruling, and it's effect on the Club.
vph-d