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

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

A frustrated entrepreneur’s tweet, some attention from DOGE, and a law that puzzled and worried small-business owners is on hold.

The Very Weird End of Beneficial Ownership Information (BOI) Reporting — Improve Your HR

Who owns that business? That should be an answer that is easy for any business to provide. After all, don’t all employees know who the “big boss” is? So, why on earth did companies balk at the Beneficial Ownership Information (BOI) requirement of the U.S. Corporate Tax Transparency Act? And why did it come to a screeching halt over a tweet? The tweet that ended it all On March 1, 2025, Terrence K. Williams tweeted at Elon Musk, asking him to loo…