Ok y'all...if you are an #indi #contractor who uses a business tax ID, or a business owner with an #LLC, #S_corp or registered #corporation...did you realize there's a whole bunch of filing you need to do before the end of the year, lest you start facing $500 a day fines?
I hadn't paid attention when the #CorporateTransparencyAct was passed, because it was immediately challenged.
Basically, if you are a small business with less than millions of dollars in revenue, you need to report the names, home addresses and upload photo IDs of "beneficial owners" to #FinCEN (Treasury Department).
Public, large, high earning companies are exempt. It's just contractors and small business under 20 employees. People, police and governments can request data from the government via FinCEN.
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