Is There a Silver Lining in the CTA Cloud?
Yesterday’s District Court decision lifting the injunction against the Corporate Transparency Act (CTA) is a setback for Main Street. The Texas court lifted the second and only remaining injunction blocking filing under the CTA, again ...
(Read More)
CTA Update | February 11, 2025
Notable Developments Smith ruling appealed FinCEN promises relief amid shifting legal landscape NFIB files amicus brief Delay bill sails through House * * * Smith Ruling Appealed On February 5, the DOJ filed a notice ...
(Read More)
Main Street Asks Treasury for CTA Relief
Over 120 trade associations today called on the Treasury Department to offer Main Street some relief and certainty by delaying the CTA through at least the end of this year. As the letter sent to ...
(Read More)
CTA Update | January 31, 2025
Notable Developments FinCEN halts CTA enforcement S-Corp Advisor in the WSJ Our Latest Podcast with CIR Litigation Director Delay Bill Reintroduced * * * FinCEN Halts CTA Enforcement (Despite SCOTUS Ruling) Last Friday the Financial ...
(Read More)
Talking Taxes in a Truck Episode 40: Decoding the CTA Legal Fight with Caleb Kruckenberg
The Corporate Transparency Act enforcement has been on quite a roller coaster in the past two months, so Main Street businesses can be forgiven if they have lost track of their filing obligations. To help ...
(Read More)
The Winds of Change (and Taxes)
The Senate confirmed Scott Bessent to run the Treasury Department yesterday, which means there’s a new sheriff in town. That’s good news for the millions of Main Street businesses targeted by the Biden Administration for ...
(Read More)
CTA Filing Pause Still in Effect
Good news! While the Supreme Court yesterday sided with the federal government in striking down an injunction against the Corporate Transparency Act, FinCEN quickly stepped in with an announcement that the filing requirements remain on ...
(Read More)
CTA Update | January 16, 2025
Notable Developments S-Corp files amicus with SCOTUS Main Street backs repeal bill Second injunction issued * * * SCOTUS Review Should Compel Administrative Relief Last week the S Corporation Association filed an amicus brief with ...
(Read More)
CTA Update | January 7, 2025
Notable Developments Government appeals to SCOTUS Lawmakers still pushing for CTA repeal Yet another Treasury hack * * * Legal Update Immediately following the reinstatement of the nationwide injunction against the CTA by the Fifth ...
(Read More)
CTA Injunction Reinstated!
The Corporate Transparency Act saga took a welcome turn yesterday after a Fifth Circuit Court panel reinstated the nationwide injunction against the statute. As a result of the order, Main Street businesses are not required ...
(Read More)
CTA Filing Deadline Extended to January 13th
It’s far short of the one-year delay S-Corp was seeking, but businesses covered by the Corporate Transparency Act received a small stocking stuffer yesterday, courtesy of the Treasury Department. Following the unfavorable ruling by the ...
(Read More)
Government Wins, Private Businesses Lose
An appellate court today ruled in favor of the federal government in reversing a nationwide injunction against the Corporate Transparency Act. The decision means that the CTA’s reporting requirements are now back in full effect, ...
(Read More)
Main Street Still Fighting for CTA Delay
Today more than 100 trade associations joined with S-Corp in asking lawmakers to pass a Continuing Resolution bill that includes language delaying the Corporate Transparency Act’s reporting deadline. The effort was mounted following reports that ...
(Read More)
CTA Delay in Funding Bill
Big news for S corporations and other businesses covered by the Corporate Transparency Act – draft text of the negotiated legislation, which was released earlier today, includes a one-year delay of the Corporate Transparency Act’s ...
(Read More)
CTA Update | December 16, 2024
Notable Developments WSJ Highlights Legislative Effort Carol Roth on the Need for Certainty Is FinCEN Complying with the Injunction? * * * Legislative Update Draft text of a Continuing Resolution – which Congress has to ...
(Read More)
CTA Update | December 12, 2024
Notable Developments Government digs in Vivek blasts CTA Congress working on delay CNBC highlights CTA “awareness” gap * * * Legal Update Just two days after the U.S. District Court for the Eastern District of ...
(Read More)
Latest on CTA Injunction and a Legislated Delay
The national injunction on CTA filing imposed by the Eastern District of Texas Court Tuesday provides millions of business owners with a good possibility – but just a possibility – of permanent relief from this ...
(Read More)
CTA Struck Down by Texas Court!
For the Main Street business community, it looks like Christmas has come early. With less than a month to go before the Corporate Transparency Act’s year-end filing deadline, a federal court today issued a nationwide ...
(Read More)