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EVAN DAVIS Quoted in Thomson Reuters Transparency Groups, Tax Pros Differ on Impact of Ownership Reporting Rules

Evan Davis, a veteran tax litigator with Hochman Salkin Toscher Perez PC, predicted that existing businesses, particularly limited liability companies, will find adhering to the beneficial ownership regs to be “a herculean task and will result in far less than 100% compliance.” He said many clients already fail to take the basic steps to maintain their LLCs in good standing and that the new reporting rules would only add to that burden. “Getting the word out to clients who don’t use CPAs and lawyers will also be a challenge,” Davis told Checkpoint.

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