12/05/2024
In case you hadn't heard, on December 3, 2024, a federal court in Texas has issued a preliminary injunction against the Treasury Department in regards to the enforcement of the Corporate Transparency Act's (CTA) Beneficial Ownership Information Report (BOIR).
The injunction comes in contest of the CTA's constitutionality, stating it grants the government a new form of federal power outside of Congress' power. As such, the injunction has paused the enforcing of the CTA and the filing of the BOIR as we await to see an appeals court ruling on the preliminary injunction.
If you've not filed your BOIR yet, check with your attorney or CPA to determine your filing requirements as this unfolds. While the injunction may hold off the enforcement of the penalties, the deadline for the filing has not changed, and will likely still be required.
