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U.S. Treasury Halts Penalties on Controversial Business Ownership Reporting Rules

U.S. Treasury Halts Penalties on Controversial Business Ownership Reporting Rules

BUSINESS - 3/3/2025

In a surprising move, the U.S. Treasury announced it will not enforce penalties related to the controversial beneficial ownership information reporting requirements for millions of businesses. This decision, part of the Corporate Transparency Act, raises concerns over national security and the fight against illicit finance.

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