Category: Client Alerts
U.S. Department of the Treasury Suspends Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies
On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of the Treasury (the “Treasury Department”) issued a notice announcing that it would not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update […]
Beneficial Ownership Information Reporting Requirements of Corporate Transparency Act Reinstated and Halted Again – For Now
In dizzying back-to-back actions during the Christmas holidays, the U.S. Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) first stayed and then reinstated the nationwide preliminary injunction temporarily blocking enforcement of beneficial information reporting requirements of the Corporate Transparency Act (“CTA”). Following these actions, no filings under the […]
Beneficial Ownership Information Reporting Requirements Back in Effect, with Deadline Extensions
Just before Christmas, on December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted a stay of the nationwide preliminary injunction blocking enforcement of the Corporate Transparency Act (“CTA”). The Fifth Circuit’s decision effectively reinstated all CTA filing deadlines for millions of companies created or registered in […]
Update on Federal Law on Corporate Transparency
On December 3, 2024, the U.S. District Court for the Eastern District of Texas, Sherman Division, in Texas Top Cop Shop, Inc., et al. v. Garland, et al., Case No. 4:24-cv-00478-ALM, concluded that the Corporate Transparency Act (the “CTA”) is likely unconstitutional and barred enforcement of the CTA nationwide. The […]
Employment Law Update – November 2024
Federal Judge Strikes Down Department of Labor’s Salary Threshold Increase on Nationwide Basis On November 15, 2024, the U.S. District Court for the Eastern District of Texas vacated and set aside the U.S. Department of Labor (DOL)’s final regulation increasing the salary threshold for the “white collar” exemptions under the Fair Labor Standards Act […]
