Committee Reviews CTA’s Future
Earlier today a House Financial Services subcommittee held a hearing entitled, “Following the Money: Tools and Techniques to Combat Fraud.” The hearing covered many topics, but the conversation returned time and again to the awful ...
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Main Street Cheers CTA Relief
Treasury last week made good on its promise to deliver much-needed relief from the Corporate Transparency Act, a move that did not go unnoticed by the Main Street business community. In a letter sent earlier ...
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FinCEN Releases CTA Relief Rule
More good news on the battle over privacy. Treasury’s Financial Crimes Enforcement Network on Friday released the following statement: [T]he Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement ...
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Privacy Fight in Australia, Courts Continues
The actions by the new Administration last week to curtail reporting under the Corporate Transparency Act were a huge victory for millions of Main Street businesses, but they were by no means the final word ...
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Treasury Expands CTA Relief
The millions of businesses that rode out the recent roller-coaster of court rulings and chose not to file their CTA reports to date should be feeling pretty good right now. Fresh on the heels of ...
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Treasury Pauses CTA Enforcement!
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced yesterday that it is ceasing enforcement of the Corporate Transparency Act (CTA) while it crafts a new set of regulations that will ultimately narrow the scope ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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, ...
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