As previewed by FinCEN and Treasury earlier this month, FinCEN announced major changes to the application of the Corporate Transparency Act. On Friday evening, FinCEN issued an interim final rule that will remove the...more
The Corporate Transparency Act (the “CTA”) remains in full force and effect, although FinCEN recently announced that it will not take any enforcement actions against reporting companies who fail either to file or to update...more
Although the Corporate Transparency Act (the “CTA”) remains in full force and effect and, along with it, a requirement for most reporting companies to file their beneficial ownership information reports, the previously...more
As of February 17, 2025, the Corporate Transparency Act (the “CTA”) is back in full force and effect and, along with it, a requirement for most reporting companies to file their beneficial ownership information reports by...more
As previously reported, the Supreme Court has already considered on an emergency basis whether to stay Corporate Transparency Act (“CTA”) enforcement deadlines. In that case, McHenry v. Texas Top Cop Shop, Inc., No. 24A653,...more
As previously reported, on December 31, 2024, the government filed an application in the Supreme Court of the United States to stay or narrow the Fifth Circuit’s preliminary nationwide injunction halting the Corporate...more
As previously reported, on December 26, 2024, the Fifth Circuit first lifted—and then reinstated—a preliminary nationwide injunction staying the Corporate Transparency Act’s (“CTA”) reporting requirements pending appeal....more
1/6/2025
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Popular ,
Preliminary Injunctions ,
Reporting Requirements ,
SCOTUS ,
Stays
The U.S. Court of Appeals for the Fifth Circuit reinstated and then subsequently suspended the reporting requirements under the Corporate Transparency Act (the “CTA”) over the course of the last week by staying the original...more
1/2/2025
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FinCEN ,
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Preliminary Injunctions ,
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Time Extensions
As the government and interested parties continue to fight over the enforcement of the Corporate Transparency Act’s reporting requirements, prudent businesses and reporting companies should be prepared to comply with all...more
12/19/2024
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Beneficial Owner ,
Business Entities ,
Constitutional Challenges ,
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Corporate Transparency Act ,
Department of Justice (DOJ) ,
FinCEN ,
Pending Litigation ,
Preliminary Injunctions ,
Reporting Requirements
Yesterday, a Texas district court issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc. et al., v. Garland et al., enjoining enforcement of the Corporate Transparency Act’s reporting requirements. The CTA...more
After the U.S. Congress enacted the federal Corporate Transparency Act (the “CTA”) on January 1, 2021, a wide range of plaintiffs immediately brought suit against the government challenging its constitutionality. Currently,...more
11/18/2024
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Small Business ,
Trade Associations ,
U.S. Treasury
The federal Corporate Transparency Act (the “CTA”) has prompted certain states to consider their own laws aimed at increasing the transparency of beneficial ownership. This article delves into the recently enacted New York...more
The Corporate Transparency Act (“CTA”) was enacted by The U.S. Congress in January 2021 as a way to protect the United States financial system from being used for money laundering and other illicit activities....more
FinCEN clarifies that entities that are dissolved in 2024, or merge into other entities in 2024, do still have beneficial ownership information filing requirements if not exempt....more
The Corporate Transparency Act (CTA) and its reporting requirements has now gone live as of the first of this year and applies to nearly all existing and future entities (corporations, partnership and limited liability...more
On April 18, 2024, the Financial Crimes Enforcement Network (FinCEN) published an updated set of Frequently Asked Questions (FAQs) pertaining to the Beneficial Ownership Information (BOI) Reporting Rule under the Corporate...more
With the Corporate Transparency Act (CTA) now in effect, it is crucial for privately held mid-sized and large companies to look into and re-examine their corporate structures to ensure compliance with the new law. While the...more
On September 28, 2016, the Centers for Medicare & Medicaid Services (“CMS”) released its first major rule affecting long-term care facilities since 1991. The rule lays out certain improvements in training and quality of care...more
While providers would certainly feel the pinch from the FY 2017 budget request submitted by President Barack Obama, hospitals have some new hope on receiving funds tied up in the Recovery Audit Contractor (RAC) appeals...more
Following complaints, concerns and continuing questions relating to the Affordable Care Act reporting requirements, the IRS has relaxed reporting deadlines for 2016 in the form of IRS Notice 2016-4.
As you may be aware,...more