Treasury Department

The interim final rule removes the requirement under the Corporate Transparency Act for U.S. companies and people to report beneficial ownership information.

The Treasury named a pair of IRS agents as special advisors to Treasury Secretary Scott Bessent, and plans key roles for them at the IRS.

Love it or hate it, beneficial ownership information reporting is on the shelf for most small businesses — for now, at least.

The Institute is urging the Treasury to suspend and remove final regulations labeling some partnership related-party transactions as "transactions of interest."

The Treasury announced it would no longer enforce the Corporate Transparency Act, nor enforce any penalties or fines associated with beneficial ownership reporting.

The Treasury Secretary said one person at the Internal Revenue Service "is looking at an outdated IT system, that's all they're doing."

A federal district court in Texas has stayed an injunction that had prevented enforcement of the Corporate Transparency Act and its reporting requirement.

Senate Democrats criticized Treasury Secretary Scott Bessent for what they call a "lack of candor" about what DOGE workers are doing with U.S. payment systems.

Elon Musk will dispatch a team to gain read-only access to the government's central accounting system.

Bessent said the Internal Revenue Service would be largely spared from DOGE's cost-cutting — at least until after the April 15 filing deadline.