Nationwide Injunction Halts Corporate Transparency Act Enforcement
TL;DR Summary
A U.S. district court in Texas has issued a preliminary injunction halting the nationwide enforcement of the Corporate Transparency Act (CTA), including postponing the January 1, 2025, reporting deadline for certain companies. The injunction is based on a likely successful constitutional challenge by the plaintiffs. The U.S. Department of Justice is expected to appeal the decision, potentially seeking a stay or narrowing of the injunction. Companies are advised to continue preparing for compliance, as the situation may change if a stay is granted.
Topics:business#appeal#constitutional-challenge#corporate-transparency-act#injunction#legal#reporting-deadline
- Preliminary Injunction Halts Corporate Transparency Act Enforcement: What You Need to Know Goodwin Procter
- Federal Court Enjoins Enforcement of the CTA Nationwide; Reporting Companies “Need Not Comply” with January 1 Deadline The National Law Review
- Court Blocks Corporate Transparency Act: A Win For Federalism? Forbes
- Texas judge blocks anti-money laundering law's enforcement nationwide Reuters.com
- Millions of Americans Have Failed to Comply With New Tax Ownership Rules Barron's
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