Defense Bill Would Ramp Up Reporting for Lawyers and Tax Pros

It seems that the lives of those of us in the tax and legal professions are about to get a little busier—at least if legislation currently pending in Congress becomes law.

National Defense Authorization Act

The bill, the Establishing New Authorities for Businesses Laundering and Enabling Risks to Security, or ENABLERS Act, is part of the National Defense Authorization Act for Fiscal Year 2023. Each year, Congress uses the NDAA to establish priorities for the military, including how much training, equipment, and resources will be needed to carry out those directions—the appropriations bill, which follows later in the year, provides ...