#lawyer #BOI

Hey, TikTok, it's Keith, the lawyer. I'm a lawyer, not your lawyer. This is not legal advice, even though it sounds like it, so talk to your own lawyer for that. We're going to talk again today about this federal BOI, Beneficial Ownership Interest form that they had put into effect around this time last year that required all corporations, LLCs, all types of legal entities like that, to file this form essentially listing out the beneficial owners of that entity. And they were going to have up to, let's say, $500 and something a day fine for people that do not file this form. Well, a few weeks ago, there was an injunction. Well, there's actually even before that, there was a lawsuit here in Alabama where a federal judge said, nope, you don't have to do that, it's unconstitutional, but that only applied to the people that were parties to that case. A week or so after that, there was a federal judge in Texas that issued an injunction and said, nope, this is unconstitutional, don't have to do it, there's an injunction in place. That was appealed, and just a couple of days ago, there was a ruling by a federal appeals court that said that even though they have not decided the issue yet, the appeal of that order from Texas is still on appeal, they have lifted the injunction so that everybody now has to file, and of course, they're going to make it incredibly easy and timely for everybody to be able to file, since you were going to have to do it by January 1st. They have very graciously extended the deadline for filing to January 13th. Now, like I said in my last video that I did about this, that it's going to be, it's an on again, it's on, off, on, off, on, off. People hear that, no, you've absolutely got to file, and then they hear, nope, you don't have to file, it's unconstitutional. And a lot of people are just not going to have heard that, nope, you do have to file, and by the way, you've got to do it by January 13th, or else we're going to fine you $500 and something dollars a day. My opinion about this whole thing from the start has been that it's nothing more than a trap that the federal government has set to be able to fine a bunch of people $500 and something dollars a day, because this entire BOI filing, it's ridiculous. I had actually filed mine just a couple of days before that injunction went into place, and it took me, I want to say, I mean, I wasn't even trying to get it done fast, it probably took me five or six minutes, and basically I had to list the members of the corporation and upload copies of our driver's licenses, okay? This is all information that's in the initial filing that I made when I formed this entity and is currently on file with the Secretary of State here, so it is just ridiculous. Anyhow, we're not done with this. There's going to be a bunch of people that don't file this form because they heard they didn't have to, and they didn't hear that that injunction got lifted, and then we're going to have the actual final decision on whether or not this is constitutional, and then depending on how that goes, there may even be a later appeal after that. Anyhow, so that's where we are right now. You should probably go ahead and file it. I mean, it took five minutes, and it's not like you're giving them secret information, or you're telling them who owns your corporation, or your LLC, or whatever, unless you're forming shell company after shell company to hide ownership, they already know because you already told them. Anyhow, that's where we are on this now. Thanks for watching. This is Keith Lawyer.