The Biden administration's Beneficial Ownership Information (BOI) rule is facing criticism from various stakeholders, including business owners and political figures. Critics argue that the rule represents an overreach of federal power, imposing a punitive tax on small businesses while allowing larger corporations and certain nonprofits to evade similar scrutiny. The BOI rule, enforced by the Financial Crimes Enforcement Network, requires businesses to report ownership information, which some claim is unnecessary as the government already possesses this data. Violations of the rule can result in fines of $606 per day, up to $10,000, and potential prison sentences. Republican representatives have called for the repeal of the BOI rule, suggesting that it contributes to excessive government control and burdens small business owners. There are calls for intervention from the Department of Government Efficiency (DOGE) to address these concerns.