H. R. 9045, known as the “Community Association Reporting Exemption Act,” aims to change the United States Code to exempt certain entities from reporting their beneficial ownership details. Specifically, it would allow entities that are taxed under section 528 of the Internal Revenue Code of...
Simple Explanation
The Community Association Reporting Exemption Act is a bill that says certain groups, like homeowners' associations, don’t have to fill out some forms about who owns them. This makes it easier for those groups by reducing their paperwork.