I am sure the cartels will comply.
Laws are often now passed to thwart any type, or even appearance, of taboo-ism or traditional social norms, which themselves had an effective legal-type influence on deleterious behavior.
Social norms used to stand in for laws. It was much more effective and spoke for the people much more effectively.
My doctor's secretary telephoned me to change an appointment.
"Could you email this change to me," I said. "I'm in my car and can't write it down."
"We can't do that," she replied. "It violates HIPAA."
I'm a physician. Before HIPAA, it was regular practice to consult with other physicians and specialists, by telephone, in person, or in writing. It was easy to get other opinions, seek advice, etc. Everyone benefited. Sometimes the consultation was casual and impromptu but unexpectedly priceless. Today it's impossible.
Money laundering. Anybody can give a 16500 gift to anybody and I am under no obligation to state where I got the money.
Manhattan Contrarian ping
Many forms of federal regulations (law) have taken the approach that EVERYONE is guilty until proven innocent, a nd thus they demand information on everyone, just so they can go fishing in it for whatever they want, without any warrants or even the idea they need a warrant.
This kind of thing is designed to trap innocent people who make some kind of technical error in filing.
They make it difficult or impossible to comply with the law. Then, when they want to prosecute you (remember what they did to Trump) they look at your filing, and lo and behold they “find” that you falsified business records.
You committed no crime, but some words you put on a form are used to convict you of a crime. They can do this any time, to anyone, for any reason or no reason.
The purpose of the laws is not to go after criminals, but to enable the destruction of regular people whenever the Powers That Be decide you are an annoyance.
BUMP
I am a single person LLC. Chief, cook, & bottle washer. Work from home. I was a sole proprietorship for 30 years and changed it to an LLC several years ago for tax benefits.
My total sales fell below $200K a couple of years ago (FJB).
I had to spend a couple of hours on their damned forms & hope I did not make a mistake and get fined some ungodly amount.
My antipathy for these fascist bureaucrats is unbounded.
The irony is that if my income falls much further I will be better off taxwise going back to sole proprietorship. When I went LLC my SS taxes made a huge drop. But....KY has a state income tax and losing the SS tax deduction on my state form caused a substantial increase in that tax. My net improvement still justified the change. But below a certain income it works in the other direction. Also, the annual filing fees with the state count against tax savings. As well as more $$ to the accountant doing my taxes.
Just a little more sand in the oil of business.
This has not been given much publicity. Obviously because of the election. A lot of people haven’t heard about it, or think it can’t possibly apply to them. So there will be a lot of people who miss the deadline and will be in violation of the law. Penalties of up to $591/day!!!!!
Lawyers making our laws have an automatic conflict of interest. The more complicated the laws are the more money they as a class make. The worse the law the better for their bottom line.