Time to Pause the CTA

March 19, 2024|0 Comments

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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CTA’s Prospects, Post-NSBA v. Yellen

March 7, 2024|0 Comments

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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FinCEN in the House

February 13, 2024|0 Comments

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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CTA Criticism Growing

January 3, 2024|0 Comments

With the Treasury Department’s beneficial ownership reporting portal now up and running, the Corporate Transparency Act is officially in effect. That means covered entities formed this year – 5 to 6 million, by FinCEN’s own ...

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Congress Moves CTA Delay (Maybe)

December 21, 2023|0 Comments

Lots of action with the CTA in the weeks leading up to New Year’s. On Tuesday past, the House advanced the Protect Small Business and Prevent Illicit Financial Activity Act (H.R. 5119) sponsored by Representatives ...

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No One is Ready for the CTA

November 21, 2023|0 Comments

Just in time for Thanksgiving, Sunday’s Wall Street Journal’s editorial page highlighted our Main Street letter calling for a one-year delay of the Corporate Transparency Act’s reporting requirements. Appropriately titled The Coming Deluge for Small ...

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The Importance of NSBA’s Lawsuit

September 21, 2023|0 Comments

The House Financial Services Committee held a markup yesterday to consider twelve pieces of legislation. Notably absent was the Protecting Small Business Information Act (H.R. 4035), a bill to delay the Corporate Transparency Act’s January ...

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Hitting the “Pause” Button on the CTA

September 12, 2023|0 Comments

With the Corporate Transparency Act’s new reporting requirements set to take effect beginning January 1st, Main Street is asking Congress to pump the brakes on this ill-conceived law.   A letter signed by more than 80 trade associations -- ...

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Targeting the CTA

July 5, 2023|0 Comments

S-Corp President Brian Reardon is out with an op-ed in the Washington Examiner that breaks down just how onerous and poorly constructed the Corporate Transparency Act’s reporting requirements really are. We’ve written about the CTA ...

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Congress Focused on CTA Flaws

June 16, 2023|0 Comments

With just six months to go before the Corporate Transparency Act’s (CTA) reporting requirements take effect, federal lawmakers are sounding the alarm over just how far reaching – and poorly constructed – the rules are. ...

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Main Street Backs CTA Legal Challenge

December 7, 2022|0 Comments

This week, the Main Street business community voiced its support the National Small Business Association’s lawsuit challenging the constitutionality of the Corporate Transparency Act (CTA). The letter was signed by more than 45 trade associations, ...

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ENABLERS Targets Main Street, Not Oligarchs

November 29, 2022|0 Comments

A recent op-ed in the Washington Post has all the earmarks of blatant government overreach disguised as national security advocacy.  The op-ed, Congress is Letting International Money Launderers off the Hook supports the so-called ENABLERS ...

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