CTA Update | October 23, 2024
Notable Developments Request for Signatories: Member letter to FinCEN FinCEN says tech issues are your fault Updated FAQ limits CTA exemption HOAs have their day in court TD Bank case shows the current system works ...
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CTA Pressure Ramps Up
As a followup to yesterday’s CTA Watch newsletter we wanted to highlight two notable items, starting with a great thread by our friend Liam Donovan from the Associated Builders and Contractors. Liam breaks down the ...
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CTA Update | October 2, 2024
Notable Developments Weak compliance numbers heighten concern Appeals court hears oral arguments Full court press in Ohio CTA is not a tax enforcement exercise * * * Regulatory Update New filing data from FinCEN is ...
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CTA Update | September 16, 2024
Notable Developments Main Street backs latest delay effort CTA gets high profile callout FinCEN issues updated guidance All-cash homebuyers get BOI treatment Legislative Update Following Congressman Zach Nunn’s (R-IA) introduction of the Protect Small Businesses ...
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Main Street Backs Bipartisan CTA Delay Bill
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 ...
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CTA Update | July 30, 2024
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 ...
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CTA Delay Gets Renewed Focus in Senate
The Main Street business community came out in force today 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 ...
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CTA Update | July 16, 2024
Notable Developments Appeals court sets hearing date Yellen grilled by House lawmakers New FinCEN guidance expands CTA’s reach Legal Update The Eleventh Circuit Court of Appeals announced a hearing in NSBA v Yellen, the case ...
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Breaking Down the False CTA Narrative
Tax Notes published a good summary of the state of play regarding the Corporate Transparency Act in last week’s edition, including highlighting the multiple lawsuits filed against the law and the several bills introduced to ...
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Talking Taxes in a Truck Episode 37: Carol Roth Explains Why It’s Time to Repeal the CTA
Our latest podcast guest is Carol Roth, a New York Times bestselling author, small business advocate and most recently, a staunch ally in the fight to repeal the burdensome and ill-conceived Corporate Transparency Act. Carol ...
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House Small Business on CTA
With the Corporate Transparency Act in effect for several months now, the House Small Business Committee convened to discuss how the rollout of the new law is going. The short answer – not so good. ...
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Main Street Backs CTA Repeal
Today over 100 trade associations, representing millions of small businesses nationwide, strongly supported legislation introduced by Representative Warren Davidson (R-OH) to repeal the Corporate Transparency Act (CTA). Appropriately named the “Repealing Big Brother Overreach Act”, ...
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Support CTA Relief
The House Small Business Committee is holding a hearing on the Corporate Transparency Act later this month. One witness will be Carol Roth, a bestselling author and small business advocate who has helped lead the ...
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Time to Pause the CTA
The Main Street business community came out in force today calling on Congress to enact the Protect Small Business and Prevent Illicit Financial Activity Act (S. 3625). The legislation, championed by Senator Tim Scott (R-NC), ...
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Talking Taxes in a Truck Episode 36: The CTA Compliance Wrinkle No One’s Talking About
The Corporate Transparency Act is now in effect, imposing complex reporting requirements on every small business in the country, and many large ones too. But what if the person best equipped to assist those businesses ...
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CTA’s Prospects, Post-NSBA v. Yellen
Friday’s District Court decision declaring the Corporate Transparency Act (CTA) unconstitutional is garnering lots of attention. As the Wall Street Journal editorial board noted, “The judgment is a legal bullet dodged for millions of small ...
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Court CTA Ruling a Huge Win for Main Street
Huge news to kick off the weekend -- a federal judge just ruled that the Corporate Transparency Act is unconstitutional, marking the end of a 16-month legal battle led by the National Small Business Association ...
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FinCEN in the House
The head of the Financial Crimes Enforcement Network (FinCEN) will testify tomorrow before the House Financial Services Committee (HFSC). The hearing will focus on the Corporate Transparency Act’s implementation and is a good opportunity for ...
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