<ul><li>Companies had difficulty complying with the Beneficial Ownership Information (BOI) requirement of the U.S. Corporate Tax Transparency Act.</li><li>On March 1, 2025, a tweet by Terrence K. Williams led to the abrupt end of the BOI reporting.</li><li>The tweet mentioned the burden of filling out the Beneficial Ownership Information Report and the associated penalties.</li><li>The compliance issue and concerns over fines and prison time led to the termination of the BOI requirement.</li></ul>

The Very Weird End of Beneficial Ownership Information (BOI) Reporting

Discover more