Disable the ENABLERS Act
Worried about your privacy? You should be. Congress is back and is quietly moving legislation that threatens the privacy and security of millions of business owners, charities, foundations, and investors.
The bill is called the Establishing New Authorities for Business Laundering and Enabling Risks to Security (ENABLERS) Act, and it has already passed the House as a rider on the annual National Defense Authorization Act (NDAA).
In simple terms, the Act would dramatically expand the Corporate Transparency Act’s (CTA) reporting requirements imposed on business owners and their employees. Here’s how Bloomberg describes the policies:
This is where tax professionals come in. The …
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