Posted on 12/09/2024 5:28:09 AM PST by george76
The U.S. government has appealed the nationwide preliminary injunction—and FinCEN has backed off of its position that filings should continue.
FinCEN now says that "reporting companies may continue to voluntarily submit beneficial ownership information reports."
Earlier this week, a judge in the U.S. District Court for the Eastern District of Texas threw the fate of the Corporate Transparency Act (CTA) into question, blocking the U.S. Department of Treasury from enforcing the beneficial ownership information (BOI) reporting requirements across the country.
Now, the U.S. government has appealed the nationwide preliminary injunction—and FinCEN has backed off of its position that filings should continue.
Texas Ruling..
In Texas Top Cop Shop, Inc., et al. v. Garland, et al., Judge Mazzant, an Obama appointee, granted the request of the National Federation of Independent Business (NFIB) for a preliminary injunction, blocking the U.S. Department of Treasury from enforcing the CTA's reporting requirements. Because NFIB and its nearly 300,000 members were a party to this case, the judge blocked enforcement of the BOI reporting requirements nationwide.
...
it looks like this matter could be finally resolved in the Supreme Court. For now, however, businesses have a reprieve.
(Excerpt) Read more at forbes.com ...
“Voluntary” can be quickly transformed into “if you don’t submit reports, we will assume you have something to hide, and will put you at top of list for regulatory examination “
Needs to be completely shut down.
Darn, already did mine...
What a bunch of crapola...our LLC doesn’t generate more than $500.00 a year...
Nanny State
Rats!!!
I hate this law, but the ruling scuttles a business idea of mine before the first of the year. Gladly I’ll move on to other methods of generating $$$.
I never thought that I would be on the same side as an Obama appointee - but I am on this one.
Gwjack
FinCEN should be saying for no one to send in the requested information.
Instead, they say send it in, if you want to.
I don't think you understand the current “Anti-White US Citizen” attitude the entire US government holds, right now.
Your foreign accent protects you.
Account not accent.
Your comment seems most odd and uninformed. You might want to "understand" that I, an American who was drafted in the Vietnam era and served in the Army honorably a number of years, later in life worked all around the world, and lived as a legal resident in Germany for decades. We are back in the state, friend, and conservative in life as in voting pattern. As to foreign "accents," I have some other languages in my skill set, merely for being an old, well-traveled guy now.
As to "the entire US government ," I refuse to paint with your broad brush. President Trump will be again inaugurated on 20 January, and your "entire US government" will not behave as you state. Have some faith in your conservative mind.
Ah! I misread that.
Thank you.
No coffee, yet.
I'm on my third. An Epoch Times article suggests coffee (with milk, by the way) is good for us. Cheers.
CPAs correct me if I am wrong but isn’t beneficial ownership information already reported on the various tax returns and tax forms like the 1120-S and K1 partnership profit/loss statements etc? I am glad the courts invalidated this new reporting but it seems redundant anyway.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.