AICPA Expresses Support for HR 425

Rep. Warren Davidson (R - OH) received a letter of support from the AICPA introduction of H.R. 425, the Repealing Big Brother Overreach Act, which, as introduced, would repeal the Corporate Transparency Act and the amendments made by that legislation. The bill recognizes the broad compliance burden created by the BOI reporting regime and the need for Congress to reassess whether the rule's scope is appropriately tailored to
the U.S. government’s anti-money laundering objectives.