Small Business Shared Interest Group

  • 1.  FinCEN BOI - Corporate Transparency Act: Filing Requirements Reinstated

    Posted 12-26-2024 12:08 PM

    Happy holidays from the Fifth Circuit! Corporate Transparency Act (CTA) filings are back on (for now). On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted a stay of the district court's preliminary injunction enjoining CTA entered in the case of Texas Top Cop Shop, Inc. v. Garland. So, until the Department of the Treasury's ongoing appeal of the district court's order is finally resolved, the requirement to file is back on. FinCEN has provided a bit of leeway on certain filings until January 13, 2025 (instead of January 1, 2025). 

    Here's what to know about the CTA and its Jan. 13 rule for small businesses to register with FinCEN - CBS News

     / CBS News



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    Ilya Ilienko, dual MBA, CPA, CMA
    Board Member / Director
    East Coast - United States
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  • 2.  RE: FinCEN BOI - Corporate Transparency Act: Filing Requirements Reinstated

    Posted 12-27-2024 10:41 AM

    Lots of back and forth on this one - as of today (12/27/24), the Fifth Circuit panel has again reinstated the nationwide injunction blocking the CTA's enforcement, just three days after a different panel lifted it.

    "In order to preserve the constitutional status quo while the merits panel considers the parties' weighty substantive arguments, that part of the motions-panel order granting the Government's motion to stay the district court's preliminary injunction" is vacated, the merits panel wrote in an order Thursday.  

    The case is Texas Top Cop Shop v. Garland , 5th Cir., No. 24-40792, order 12/26/24.



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    Amanda Bernard CMA,CPA,CFE
    Director/Manager
    Douglassville PA
    United States
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  • 3.  RE: FinCEN BOI - Corporate Transparency Act: Filing Requirements Reinstated

    Posted 12-30-2024 02:30 PM

    Thanks Amanda @Amanda Bernard

    Thanks for posting, I am not updating this anymore, too much flip-flopping w the Court system. 

    Maybe best to post around 12PM on the 31st of December, surely be nailed down by then, but who knows they retro revise probably as well.

    Those who may need to file may just think about filing regardless, just in case, peace of mind, unless they really don't want to. Those who really dont want to, may decide to revise their position.

    Thanks / Happy Holidays!



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    Ilya Ilienko, dual MBA, CPA, CMA
    Board Member / Director
    East Coast - United States
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    Original Message


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