IMPORTANT NOTICE FOR BUSINESS OWNERS
Federal Court blocks enforcement of the Corporate Transparency Act (CTA): BOI filing on hold
A nationwide injunction prohibiting FinCEN from enforcing the January 1, 2025, reporting deadline for all reporting companies has been granted.
Until this situation changes, businesses do not have to file beneficial ownership information (BOI) reports with FinCEN.
It is not likely that this will be the final word on the CTA. The opinion, which was issued on December 3, 2024, will likely be appealed.
For more information on this topic, please refer to this article from the Journal of Accountancy. CLICK TO READ
For information about the CTA and BOI filing, visit the U.S. FinCEN. CLICK HERE.
We will provide updates on this situation as it develops.
