Fortunately, a Texas court just struck down the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) from enforcing the Corporate Transparency Act (CTA) or its implementing federal regulations until further notice.
The camel’s nose is already in the tent, and the new rules were welcoming the camel to come on in. We are getting a reprieve from these abusive and invasive practices. Hopefully, we will see a full reversal back to liberty, transparency, and a truly representative government under President Trump’s administration.
Actually, it was a Federal Court, located in Texas. A Texas court would have no jurisdiction to rule on a federal statute.