Consistent with the Treasury Department’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule on March 21, 2025 that removes the requirement for U.S. companies and U.S....more
The U.S. Treasury Department has suspended enforcement of the Corporate Transparency Act for all U.S. citizens and domestic reporting companies....more
On February 18, 2025, a U.S. District Court for the Eastern District of Texas stayed the preliminary injunction which halted enforcement of the Corporate Transparency Act’s (CTA) reporting requirement....more
The on-again, off-again nationwide injunction barring enforcement of the Corporate Transparency Act (CTA) is back on.
The Fifth Circuit Court of Appeals will hear the case of Texas Top Cop Shop, Inc. v. Merrick Garland,...more
12/30/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Business Ownership ,
Constitutional Challenges ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays ,
Vacated
The reporting requirement of the Corporate Transparency Act (CTA) was preliminarily enjoined on December 3, 2024, by an Order of the U.S. District Court for the Eastern District of Texas. The Court issued a nationwide...more
12/11/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
Final Rules ,
FinCEN ,
Preliminary Injunctions ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays
Updated 4.9.24 -
We will continue to monitor developments. Stay tuned for updates. Original Article: Effective January 1, 2024, most Virginia community associations will be required to comply with the federal Corporate...more
Effective January 1, 2024, most Virginia community associations will be required to comply with the federal Corporate Transparency Act (“CTA”) and its regulations, unless a community association fits within one of the narrow...more
Read part one of this article series here. Historically, information about small to mid-sized businesses has been within the exclusive province of state governments. As such, business entities have been able to maintain...more
On December 27, 2020, the President signed the Consolidated Appropriations Act, 2021, which includes the COVID-related Tax Relief Act of 2020 and the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act. ...more
On Friday, October 9, 2020, the Small Business Administration (“SBA”) released guidelines for a simpler loan forgiveness process for Borrowers with Paycheck Protection Program loans of $50,000 or less[1], and a new and much...more
The Paycheck Protection Program Flexibility Act of 2020 (“PPPFA”) become law on Friday, June 5, 2020, modifying critical provisions of the CARES Act and the Interim Final Rules implementing the CARES Act, adopted by the Small...more
This Article is based on information available as of June 18, 2020. The information is subject to change as additional guidance is provided. In mid-May the SBA published the PPP Loan Forgiveness Application (SBA Form 3508)....more
This Article is based on information available as of June 5, 2020. The information is subject to change as additional guidance is provided. NOTE—The Paycheck Protection Program Flexibility Act of 2020 amends the CARES Act...more
The SBA has published the PPP Loan Forgiveness Application (SBA Form 3508) which can be downloaded here and on May 22, 2020 the SBA published its Interim Final Rule on PPP Loan Forgiveness (“Rule”). This Rule provides...more
This Article is based on information available as of May 18, 2020. The information is subject to change as additional guidance is provided. The SBA has now published its PPP Loan Forgiveness Application (SBA Form 3508) which...more
5/19/2020
/ CARES Act ,
Certification Requirements ,
Coronavirus/COVID-19 ,
Federal Loans ,
Good Faith ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
U.S. Treasury
Since the passage of the CARES Act and the SBA completing the first round of PP Loans, companies have been dealing with an ever changing set of guidelines interpreting the eligibility requirements for a PPP Loan and the...more
Since the passage of the CARES Act and the SBA completing the first round of PPP Loans, companies have been dealing with an ever changing set of guidelines interpreting the eligibility requirements for a PPP Loan and the...more
Since the passage of the CARES Act and the SBA completing the first round of PPP Loans, companies have been dealing with an ever changing set of guidelines interpreting the eligibility requirements for a PPP Loan and the...more
In its interim rules dated April 2, 2020, the SBA stated that it will issue additional guidance on loan forgiveness. The SBA is required to issue final guidelines on loan…...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) established the Paycheck Protection Program (“PPP”). The CARES Act provides the general framework for the loans available to businesses under the PPP...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted and signed into law by the President on March 27, 2020. The principal program for small business economic relief under the CARES Act is the...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted and signed into law by the President on March 27, 2020. The principal program for small business economic relief under the CARES Act is the...more
The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable to pay rent due to...more
3/26/2020
/ Coronavirus/COVID-19 ,
Eviction ,
Fannie Mae ,
Federal Housing Administration (FHA) ,
Forbearance Agreements ,
Freddie Mac ,
Moratorium ,
Mortgages ,
Multi-Family Development ,
Relief Measures ,
Residential Property Owners ,
State of Emergency
On a daily basis it is becoming more evident that businesses will be significantly affected by the Coronavirus (“COVID-19”). Businesses now have a growing number of resources and programs that can ease some of the financial...more