S-Corp President Brian Reardon is out with an op-ed in the Washington Examiner that breaks down just how onerous and poorly constructed the Corporate Transparency Act’s reporting requirements really are.

We’ve written about the CTA at length (here, here, and here) but the piece that ran on Monday is designed to sound the alarm to an even broader audience. It begins:

Starting next year, millions of small business owners will get a letter from a federal agency they’ve never heard of, telling them they need to comply with a law nobody’s told them about. Most, like reasonable people, …

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This week, the Main Street business community voiced its support the National Small Business Association’s lawsuit challenging the constitutionality of the Corporate Transparency Act (CTA).

The letter was signed by more than 45 trade associations, including the International Franchise Association, National Roofing Contractors Association, the National Association of Wholesaler-Distributors, and the Real Estate Roundtable. These trades represent businesses from every state and nearly every sector of the economy.

As the letter makes clear, the CTA is poorly constructed, overly burdensome, and threatens the owners of literally millions of small businesses across the country:

The CTA represents an unprecedented attempt by the …

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A recent op-ed in the Washington Post has all the earmarks of blatant government overreach disguised as national security advocacy.  The op-ed, Congress is Letting International Money Launderers off the Hook supports the so-called ENABLERS Act and hits all the key words – “Putin,” “kleptocrat,” “ill-gotten gains,” “basic due diligence” – on the partisan FACT Coalition bingo card. What it fails to do is explain how the bill will make Americans safer or our financial system more secure.

The photo accompanying the story is a good example of just how badly the law will fail.  It shows the …

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As we’ve observed previously, the Corporate Transparency Act is a poorly constructed bit of law. It will do little to combat money laundering as the criminals will simply refrain from self-reporting their crimes, but it will saddle millions of lawful small business owners with yet another reporting requirement as well as an opportunity to have their personal information spread all over the internet.

On Tuesday the National Small Business Association (NSBA) highlighted another reason to dislike the CTA: it’s unconstitutional. A lawsuit filed by the group in the U.S. District Court for the Northern District of Alabama argues the …

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