Quote from @Abhijit Roy choudhury: Financial Crime enforcement Network, requires reporting of Beneficial Ownership Information filing by 01/01/2025.Does this apply to us, Rental LLC owners.

& @Jay HinrichsGreat information guys.

To say I am shocked is an understatement.Finally, when I sought out their tax strategy services, I specifically asked in the informational meeting if I wasn't acting a little prematurely, and if I should wait for my partner and I to be married in 2024 before making this investment, i.e. if tax strategizing would pay for itself in 2023 via significant tax refunds.

It’s generally better to pay taxes, especially if it’s preferential LTCG treatment and make a sound investment with cash that remains than defer and make poor investment decisions. 

@Benjamin Carver great post with lots of helpful information.

There's currently a website set up to get information from customers that have had this contract "sleight of hand" done to them. 

Your Broker has the ultimate decision on whether or not you can do it. 

@Nicholas Stout Normally when I hear landlords make the conscientious decision to "convert" their properties to Section 8 rentals, they have a real estate problem wrongly diagnosed as property management or tenant issues.

The information contained in this post is not to be relied upon.

This system is called online TIN matching, and you will have to sign up for IRS eServices in advance and share your personal information in the process.My contractor says he is a business and does not need a 1099He is wrong.There is an exemption for corporations, both C-corporations and S-corporations.