Imagine you’ve spent years saving, and you finally buy a modest rental property. You pay cash to avoid taking out unnecessary loans, and you put the property in an LLC because your accountant told you to. Congratulations, the federal government now considers you a suspect!
That’s the logic behind a Treasury Department rule that a federal court struck down this spring, which the government is now trying to revive. The case, Flowers Title Companies v. Bessent, is before the . Its outcome will decide whether nearly every all-cash home purchase by a trust or business in America is reported to federal law enforcement.
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