Blogs

Business and Financial Services

CTA Update (March 2, 2025): Treasury Department Posts on X that CTA Filing Requirements No Longer Apply to U.S. Businesses

Many of us were looking for some additional clarity regarding the Corporate Transparency Act (CTA) in the wake of FinCEN’s February 28, 2025, Notice. We may have finally received that when the Treasury Department’s announced in posts on X on March 2, 2025, that it will not enforce any penalties or fines associated with the…

March 5, 2025

Business and Financial Services

Another Day, Another CTA Update: FinCEN Extends BOIR Deadline

Those following this blog will recall that FinCEN just announced ten days ago that Beneficial Ownership Information reporting (BOIR) requirements under the Corporate Transparency Act (CTA) were once again back in effect with the decision of U.S. District Court for the Eastern District Court of Texas, in Smith, et al. v. U.S. Department of the Treasury,…

February 28, 2025

Business and Financial Services

CTA Update (2/19/25) – CTA Reporting Requirements are Back On Again!

They’re back! FinCEN Beneficial Ownership Information reporting (BOIR) requirements under the Corporate Transparency Act (CTA) are once again back in effect. The catalyst in this very long-running back-and-forth was the February 18, 2025, decision of the U.S. District Court for the Eastern District Court of Texas, in Smith, et al. v. U.S. Department of the…

February 19, 2025

Business and Financial Services

CTA Update – The Supreme Court Lifted the CTA Injunction, but for Now CTA Reporting is Still Not Required

In the longest running game of legal pong in years in the United States, the Supreme Court entered the fray in the battle over enforceability of the Corporate Transparency Act (CTA) requirements on disclosure of ownership with FinCEN. On January 23, 2025, the Supreme Court issued a stay of the trial court’s nationwide preliminary injunction…

January 30, 2025

Employment Law

Kentucky Federal Court Vacates Biden Administration’s Title IX Final Rule

The Biden administration spent nearly two years crafting new regulations that attempted to make clear Title IX’s ban against discrimination “on the basis of sex” also included discrimination-based sex stereotypes, pregnancy, sexual orientation, and gender identity. Notwithstanding the U.S. Supreme Court’s conclusion in the Bostock case that the term “sex” included these other matters in…

January 15, 2025

Business and Financial Services

UPDATE – 12/31/24 Wait…Forget “Never Mind”…The Fifth Circuit Vacates its Stay of its CTA Preliminary Injunction, Puts CTA Reporting Requirements on Hold

On December 26, 2024, the on-again, off-again saga of the reporting requirements for most small business owners under the Corporate Transparency Act (CTA) took another twist when the U.S. Court of Appeals for the Fifth Circuit decided to completely reverse direction. The Fifth Circuit vacated its December 23, 2024, Order that blocked the trial court’s…

December 31, 2024

Business and Financial Services

UPDATE – 12/27/24 Never Mind…CTA Reporting Requirements are Back Again!

We have written regularly on the requirements of most business owners, subject to limited exceptions, to file disclosure documentation as required by the Corporate Transparency Act. We also updated you with the news that a Texas District Court had entered a nationwide injunction blocking the act on December 3, 2024. Now the latest…never mind, the…

December 27, 2024

Business and Financial Services

Corporate Transparency Act is Blocked by Texas Federal Court

UPDATE – 12/10/24 After initial publication and contrary to the information below, FinCEN has now updated their website indicating reporting companies were not required to file at this time and that entities will not be subject to liability for failure to report during the injunction. The relevant section states: While this litigation is ongoing, FinCEN…

December 5, 2024

Business and Financial Services

The Corporate Transparency Act is Still Alive and Community Associations May Need to File

As we have previously discussed, despite some pieces of litigation challenging the Corporate Transparency Act (CTA), the CTA is still in place for now and companies and organizations need to grapple with compliance. The CTA reporting requirements may be on the chopping block for the incoming Trump administration, but for now they are still in…

November 11, 2024

Business and Financial Services

Corporate Transparency Act Reporting Deadlines Are Here!

With the passage of the Corporate Transparency Act (CTA), there are a ton of questions. Most companies must file a Beneficial Owner Information Report (BOIR). Here are some of the main points: When do I need to file my BOIR? For companies formed prior to 1/1/2024, the deadline for filing the BOIR is 12/31/24. As…

October 16, 2024