(2/6/25) Update as of February 5, 2025: The government appealed the nationwide injunction blocking CTA enforcement in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (E.D. Tex.). FinCEN updated its...more
2/10/2025
/ Anti-Money Laundering ,
Appeals ,
Beneficial Owner ,
Compliance ,
Constitutional Challenges ,
Corporate Transparency Act ,
Disclosure Requirements ,
Enforcement Actions ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Requirements ,
Reporting Requirements ,
U.S. Treasury
Despite a Supreme Court ruling on January 23, there have been no material changes regarding Corporate Transparency Act (“CTA”) filing obligations. As of January 23, current FinCEN guidance is that no entity is required to...more
On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted the government’s emergency motion to lift the injunction and stay on all beneficial ownership information filings under the Corporate Transparency...more
12/27/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Time Extensions
We previously discussed a ruling by a federal District Court in Alabama finding that the Corporate Transparency Act (“CTA”) was unconstitutional, with the holding limited to the plaintiffs in the case. For general background...more
12/9/2024
/ Corporate Transparency Act ,
Department of Justice (DOJ) ,
Enforcement ,
Financial Crimes ,
FinCEN ,
First Amendment ,
Fourth Amendment ,
Preliminary Injunctions ,
Reporting Requirements ,
Texas ,
Unconstitutional Condition
It can sometimes be difficult for artists to focus on the business aspect of their profession. Creating art is their passion, and the business end of it can seem unimportant, or even overwhelming. It is important for every...more
The federal Corporate Transparency Act (CTA), which went into effect on January 1st of this year, is currently the subject of a constitutional challenge. The link to our prior alert regarding the CTA can be found here....more
Late last year the Internal Revenue Service released Publication 5884 (“Inflation Reduction Act and CHIPS Act of 2022 Pre-Filing Registration Tool User Guide and Instructions”), which provides instructions to taxpayers...more
A recent article circulating among North Carolina contingency fee attorneys and others has regrettably caused confusion about the viability of attorney fee structured settlements. The premise of the article, entitled “IRS...more
Using a Delaware Statutory Trust Investment to Defer Tax In a Like Kind Exchange -
The headwinds in the domestic real estate market have raised the profile of a relatively unknown but powerful investment strategy: exchanging...more
By all measures, 2021 was a banner year for hiring, but 2022 and 2023 have been the opposite.
According to one media source, more than 121,000 jobs in the technology sector alone — think Google LLC, Amazon.com Inc.,...more
6/16/2023
/ 1099s ,
Employment Litigation ,
FICA Taxes ,
Income Taxes ,
Interest Rates ,
IRS ,
Settlement ,
Severance Agreements ,
Social Security Taxes ,
Technology Sector ,
U.S. Treasury ,
W-2