Friggin' BOI from the .gov.....FML....WWVBOT do?

[Blademaker]

I learned this past month that I have to file a BOI (Beneficial Ownership Information) on any LLC or Trust that I own.
I own 1 of each, so I have to get on ANOTHER .gov list. I've already filed for both on line. Done deal.
Here's my question.....I own a second trust that I have for my Suppressors.
I'm wondering if I gotta get another BOI and add that as well.
Reason for the BOI in the first place is for the .gov to track / staunch any cash flow from ill gotten gains. There is NO $$$ going in/out of the Suppressor Trust.
Any words of wisdom, as well as a few choice words for our .gov is appreciated.

[GTOguy]

Barbeque don't need no stinkin' BOI.

[Aerovette]

Fkm. Plead ignorance...we'll vouch for you.

[ZipZap]

Originally Posted by Aerovette

Fkm. Plead ignorance...we'll vouch for you.

[ZipZap]

What are the penalties? Was the notice given via a verfiable means? They tied to hit me up for penalties this year on taxes because I'm still figuring out proper withholding. Last year I was using most non-taxable assets, but in '23 I pulled from taxable 401k accounts.

[Blademaker]

Originally Posted by ZipZap

What are the penalties? Was the notice given via a verfiable means? They tied to hit me up for penalties this year on taxes because I'm still figuring out proper withholding. Last year I was using most non-taxable assets, but in '23 I pulled from taxable 401k accounts.

Non compliance, $500 daily, up to 10 K
Possible 2 years in Jail.
If your Trusts/LLC are over a few years old, you have 1 year to comply. More recent than that, it gets down to 30 days fast.

[Blademaker]

Originally Posted by Aerovette

Fkm. Plead ignorance...we'll vouch for you.

[ZipZap]

Originally Posted by Blademaker

Non compliance, $500 daily, up to 10 K
Possible 2 years in Jail.
If your Trusts/LLC are over a few years old, you have 1 year to comply. More recent than that, it gets down to 30 days fast.

You need to make a call. The online tax and vehicle directions are just enough to piss you off, so I've never had luck just reading any site, let alone the IRS.

I literally just set up e-payments for CO DoR Quarterlies because you reminded me.

[Frankie the Fink]

Having a biz is a PITA vis a vis the government - I had to file a 5500 form with the Dept of Labor yearly to track my self funded pension account in my one person enterprise.

Presumably so I didn't cheat myself out of retirement funds ?!?!?!?

[dvarapala]

Originally Posted by Blademaker

Any words of wisdom, as well as a few choice words for our .gov is appreciated.

Just as long as you're not a Soy BOI...

[Blademaker]

Originally Posted by dvarapala

Just as long as you're not a Soy BOI...

[Blademaker]

F uckin' .gov......
Dammit to hell.....

[69camfrk]

I wasn't even there that day. I call bullshit!!!

[slewfoot]

My real smart wife has weekly issues that amount to "hey, watch this! Some of our finances are completely separate and her problem, not mine. This is year 2 now of getting her inheritance under control.

Some how she took out $7k from an already pre-taxed account. Possible Roth and put it in another account and is now counted as income and must pay taxes on it and may cause her Medicare to increase again.

I told her "you deal with it." She had a tax appt today, Guess we'll see how this turns out