J Richard Garrett

Is anybody looked at the penalties which will be assessed to small business starting January 1 of 2025 under the required FinCEN -BOI as of this past week approximately 25 million small businesses have not filed a report and will be subject to $$591 penalty per day or about $15 billion per day. Both DOGE and Congress are missing a classic opportunity to apply common sense to the train wreck approaching small businesses

@Arden_2210 9

What number am i...? 0.1 % will be succeed

@Arden_2210 9

@elonmuskelry HOPE

@money_cruncher Somebody give me the math on 22000,000×$591 and does the government really expect to be able to service 22 million filers Between now and January 13 of 2025

Only 8M out of 32M filed the BOI, so please: 1. follow me @money_cruncher 2. retweet the first tweet so others can learn about this requirement

How do you file? Go to the FinCen dot gov/BOI (note - there are a bunch of scammers paying for Google PPC so make sure you use the official, government website) and click “Prepare & Submit BOIR” online.

Here JOT-FinCEN goes again. The federal fifth circuit court agreed with their filing, and the BOI report due date has returned to January 1, 2025 for the $591 a day penalty to be assessed. Congress and the judiciary have no idea the effect this has on the 25 million small businesses that will suffer the consequences If President Elect Donald J Trump really understands the compliance cost and the impact of the on small businesses he would get this corrected. In November it was estimated that 25 million businesses had not filed or Close to $15 billion a day in assist penalties

Is anybody looked at the penalties which will be assessed to small business starting January 1 of 2025 under the required FinCEN -BOI as of this past week approximately 25 million small businesses have not filed a report and will be subject to $$591 penalty per day or about $15 billion per day. Both DOGE and Congress are missing a classic opportunity to apply common sense to the train wreck approaching small businesses

The ROI for most government expenditures is very low.

@Ivory_Johnson Am I just dreaming or as I have this week almost 25,000,000 entities have not filed their BOI and the math of $591 per day is almost $15 billion a day. Where is the common sense

The Corporate Transparency Act requires certain U.S. entities to report beneficial ownership information (#BOI) to #FinCEN. It should take 10 minutes, but if you don’t do it by Jan 1st there’s a $591 per day fine. fincen.gov/boi-faqs

@elonmusk @VivekGRamaswamy @realDonaldTrump Small Businesses to be charged $15 Billion a day in penalties - WHERE IS COMMON SENSE "Starting January 1, 2025, small businesses face the risk of incurring up to $15 billion in daily penalties for noncompliance with the Corporate Transparency Act's Beneficial Ownership Information reporting requirements. This new regulation underscores the urgency for small businesses to understand and adhere to the rules to avoid significant financial repercussions.

IRS provides relief for Helene; various deadlines postponed to May 1, 2025; part or all of 7 states qualify irs.gov/newsroom/irs-p…

@robmckinney Legs & Sharp Dressed Man are Sweet but really intrigued by early blues sounds

Watching now about the little ole band from Texas

@GinaHaspell1 @TheMikeDowd @dbongino @POTUS @CIA Show your Patriotism and release all documents requested by Congress

@msonenote @Office Use sections as months pages as days format as yellow pad page (old habits hard to break) to track client work, txt.s, phone calls or import doc.s - hand written not typed

What is the most interesting thing you are currently working on in #OneNote?

@cpapracadvisor Did Congress intend to claw back 200 billion of the 649. Billion in PPP loans

Businesses with forgiven PPP loans will lose some tax deductions- #IRS - cpapracticeadvisor.com/21136566

@cpapracadvisor Was it Congressional intent to tax recipients of PPP loans effectively saddling small business with a $200 billion tax bill? See IRS Notice 2020-32

Top news this week #7: PPP refilled with $320 billion as new $484 billion coronavirus relief bill is signed into law- cpapracticeadvisor.com/21135424

@marcorubio Don’t let IRS claw back 200 billion of 649 billion!!!

#PPP UPDATE: Two hours into second round of program In first batch of applications the average #ppploan size is less than 1/2 of what it was in first round An encouraging sign that it’s reaching smaller companies & 1099 independent contractors

AICPA challenging nondeductibility of PPP-related expenses journalofaccountancy.com/news/2020/may/…

@realDonaldTrump IRS Notice 2020-32 will claw back $200 Billion of $649 Billion you are trying get to small business! Please respond

IRS Will Claw Back $200 Billion of $649 Billion PPP loans see Notice 2020-32

"There is no passion 2 be found playing small - in settling 4 a life that is less than the 1 u are capable of living." Mandela