The Very Weird End of Beneficial Ownership Information (BOI) Reporting

Improve Your HR

Who owns that business?
That should be an answer that is easy for any business to provide. After all, don’t all employees know who the “big boss” is?
So, why on earth did companies balk at the Beneficial Ownership Information (BOI) requirement of the U.S. Corporate Tax Transparency Act? And why did it come to a screeching halt over a tweet?
The tweet that ended it all
On March 1, 2025, Terrence K. Williams tweeted at Elon Musk, asking him to look into the BOI. Williams said, “I just received an email saying I must fill out Beneficial Ownership Information Report every year or be fined over 591 dollars a Day + 10k fine and Prison time.”
To keep reading, click here: The Very Weird End of Beneficial Ownership Information (BOI) Reporting 
The post The Very Weird End of Beneficial Ownership Information (BOI) Reporting appeared first on Improve Your HR.
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04/03/2025 – 21:00 /Evil HR Lady
SoMe: @hoffeldt.bsky.social

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About Admin

As an experienced Human Resources leader, I bring a wealth of expertise in corporate HR, talent management, consulting, and business partnering, spanning diverse industries such as retail, media, marketing, PR, graphic design, NGO, law, assurance, consulting, tax services, investment, medical, app/fintech, and tech/programming. I have primarily worked with service and sales companies at local, regional, and global levels, both in Europe and the Asia-Pacific region. My strengths lie in operations, development, strategy, and growth, and I have a proven track record of tailoring HR solutions to meet unique organizational needs. Whether it's overseeing daily HR tasks or crafting and implementing new processes for organizational efficiency and development, I am skilled in creating innovative human capital management programs and impactful company-wide strategic solutions. I am deeply committed to putting people first and using data-driven insights to drive business value. I believe that building modern and inclusive organizations requires a focus on talent development and daily operations, as well as delivering results. My passion for HRM is driven by a strong sense of empathy, integrity, honesty, humility, and courage, which have enabled me to build and maintain positive relationships with employees at all levels.

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