Hamilton Law, PLC’s Post

❗❗ IMPORTANT UPDATE ❗❗ Matters surrounding the Corporate Transparency Act (CTA) are moving quickly in Texas. On December 13, 2024, the Department of Justice filed an emergency motion with the U.S. Court of Appeals for the Fifth Circuit to pause the preliminary injunction issued by the Eastern District of Texas, which currently prevents enforcement of the CTA. The Fifth Circuit has accelerated the briefing schedule, with final responses due by December 19. Observers anticipate a ruling before year-end. The Fifth Circuit could: 🔴 Deny the stay – maintaining the nationwide block of the CTA. 🟢 Grant full or partial relief – potentially reinstating the January 1, 2025 filing deadline for some or all reporting companies. With the holidays and limited time remaining, business owners and advisors should be prepared to file Beneficial Owner Information Reports (BOIR) before January 1, or be ready to act quickly pending the Court's decision. Stay tuned for updates as the situation evolves. #CorporateTransparencyAct #CTA #BusinessCompliance #LegalUpdate #FifthCircuit #BeneficialOwnership #SmallBusiness #BusinessOwners #FinancialAdvisors #LawAdvisors #RegulatoryCompliance #FinCEN #CorporateLaw #ComplianceUpdate #ReportingRequirements #BusinessLaw #LegalCompliance #EntityManagement #DeadlineAlert

Following the update we shared yesterday, the Court of Appeals hasvacated the stayof the preliminary injunction regarding the Corporate Transparency Act (CTA) and its Beneficial Ownership Information reporting requirement. This means the injunction blocking enforcement of the CTA isonce againin effectnationwide, pending further court proceedings. What does this mean for small businesses? Enforcement of the CTA's beneficial ownership reporting requirements ispausedfor now. A final decision on the appeal is still pending, so stay tuned for updates. For small business owners, this ruling provides temporary relief. However, we encourage you to stay informed about this ongoing litigation. 💡Key Takeaway:While compliance deadlines are uncertain, businesses should remain prepared in case reporting requirements are reinstated. #CTACompliance #BeneficialOwnership #FinCEN

A Texas Federal Court just granted a nationwide preliminary injunction for Beneficial Ownership Information Reporting. Stay ahead of the curve and understand how this development affects your business. Let's discuss the implications and ensure you're prepared for what's next. 

A Texas Federal Court just granted a nationwide preliminary injunction for Beneficial Ownership Information Reporting. Stay ahead of the curve and understand how this development affects your business. Let's discuss the implications and ensure you're prepared for what's next. 

A Texas Federal Court just granted a nationwide preliminary injunction for Beneficial Ownership Information Reporting. Stay ahead of the curve and understand how this development affects your business. Let's discuss the implications and ensure you're prepared for what's next. 

A Texas Federal Court just granted a nationwide preliminary injunction for Beneficial Ownership Information Reporting. Stay ahead of the curve and understand how this development affects your business.  

😵💫 On hold ... again! The proposed #CorporateTransparencyAct (#CTA) remains in limbo following the reinstatement of an injunction barring enforcement of the Act's January 1 filing deadline.   🕵 The CTA, which requires businesses across the #US to disclose their beneficial #ownership information, was intended to curb the use of secretive shell companies and stem the flow of illicit funds. However, some small business owners have characterized the law's requirements as laborious, or even as an invasion of their privacy.   🏛️ The law will now be reviewed by a merit panel, and the appeals court that reinstated the injunction has signaled that the law may ultimately be approved. The deadline for businesses to file ownership information has been pushed to January 14, 2025, and may be delayed even further depending on the length of the review process. Stay tuned for the latest in #compliance news. #UBO

A Texas federal court has issued a nationwide injunction halting the enforcement of the Corporate Transparency Act (CTA). This means businesses are no longer required to file Beneficial Ownership Information (BOI) reports by the previously set deadlines. The court ruled that the BOI reporting rules likely exceed Congress’s constitutional authority and impose unnecessary burdens on small business owners. The deadline is now paused — businesses can hold off filing for now. Why does this matter? The CTA would have required millions of businesses to report sensitive information on their owners, leading to significant compliance costs and penalties. For now, enforcement is halted across the U.S. What should you do now? • Hold off on filing until further guidance. • Monitor updates from the DOJ and FinCEN. • Understand this decision may not be final. Will the government appeal this decision? Check back in for updates on this ongoing case and what it means for you as a business owner. #CTA #CorporateTransparencyAct #BusinessLaw #SmallBusinessCompliance

CLIENT ALERT: Nationwide Preliminary Injunction on Corporate Transparency Act (December 5, 2024) A federal court in Texas has issued a nationwide preliminary injunction enjoining the FinCEN's enforcement of the Corporate Transparency Act until further notice. As a result, businesses are not obligated to comply with the CTA's beneficial ownership information reporting obligations for the duration of the injunction. FinCEN is expected to issue a press release with its response to the court's order. Businesses should be prepared to comply with the CTA's obligations if the enforcement stay is later lifted. Please see our related Client Alert attached to this post.

A Texas Federal Court just granted a nationwide preliminary injunction for Beneficial Ownership Information (BOI) Reporting. Stay ahead of the curve and understand how this development affects your business. Let's discuss the implications and ensure you're prepared for what's next.