The incoming Trump administration’s Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, aims to eliminate regulatory and spending waste in the federal government. That should be a plentiful task. This exciting initiative presents a real opportunity to assist 34 million small businesses right away.
Small businesses and other organizations, including some homeowners’ association boards, face new scrutiny from the Treasury Department’s Financial Crimes Enforcement Network. Under the Corporate Transparency Act’s Beneficial Ownership Information rule, FinCEN requires these groups to register sensitive personal information for all owners and business decision-makers by January 1. I have previously written about this mandate and its implications.
Given the tight time frame and appeal process, the DOGE and Trump can make an impact even before the inauguration and
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!