The House Small Business Committee is holding a hearing on the Corporate Transparency Act later this month. One witness will be Carol Roth, a bestselling author and small business advocate who has helped lead the charge against the poorly crafted law.
We’ve covered the CTA at length over the past few years but the bottom line is that while reporting under the CTA started already and the deadline is the year’s end, only a tiny percentage of the targeted 33.6 million small businesses even know it exists. That’s bad because a failure to file is accompanied by thousands in fines and two years in jail.
Carol Roth’s appearance before the Small Business Committee will help us get the message out and she recently issued the following request:
I have been invited to testify in front of the House Small Business Committee on April 30th against the CTA BOI rule that is unfairly targeting small business owners. I am honored to take this step to fight for the Constitutional rights of small businesses owners across the country.
I am also able to submit statements for the record from other small business owners. I want to submit at least 100, but as many as possible, to make an impact. If you own a US-based small business, please consider submitting a statement to me before April 19, 2024.
To make this easy for you, I have created a page to take the submissions, which includes a sample letter (you can borrow as much or as little as you want for the letter- any personal insights are welcome). You can access that here.
As an S-Corp reader, we hope you’ll consider submitting a statement to Carol before the end of the week – it only takes a few minutes and helps ensure your voice is heard on this important issue.
And if you happen to live in Ohio, then it’s doubly important that you get engaged. Senator Sherrod Brown (D-OH) is the chair of the Senate Banking Committee and is the key to moving the Tim Scott delay bill through that body. If Senator Brown supports the bill, it will pass the Senate.
So submit your statement, contact the Brown office, and make sure your voice is heard!