Today the S Corporation Association joined with 150 of its trade association allies to support legislation to delay the Corporate Transparency Act’s year-end reporting deadline.

The bill, H.R. 9278, was introduced by Iowa Congressman Zach Nunn (R) and enjoys bipartisan support. Its purpose is straightforward – provide much-needed relief to tens of millions of small businesses and other entities subject to the CTA’s reporting requirements. As the letter notes:

The CTA is unique in that it explicitly targets the very companies least equipped to shoulder its regulatory burdens. Among its various exemptions, the statute includes a carve out for entities whose …

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Notable Developments

• S-Corp leads push for CTA delay amendment in NDAA
• Approps bill with delay language gets veto threat
• FinCEN notice makes clear CTA is unnecessary
• Utah business groups file suit
• Bloomberg misses the point

Legislative Update

The Main Street business community came out in force last week calling on Congress to adopt a one-year delay of the Corporate Transparency Act as part of this year’s National Defense Authorization Act. The effort, led by the Main Street Employer’s coalition and backed by more than 135 of its trade association allies, is in support of a pair of NDAA amendments. As the …

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