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C. Richard Wilkins
Dec 28, 20241 min read
UPDATE: FIFTH CIRCUIT COURT OF APPEALS REINSTATES INJUNCTION ON BENEFICIAL OWNERSHIP INFORMATION REPORTING
On December 23, 2024, the U. S. Court of Appeals for the Fifth Circuit Court lifted the nationwide injunction issued on December 3, 2024...
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C. Richard Wilkins
Dec 26, 20241 min read
UPDATE: FIFTH CIRCUIT COURT OF APPEALS LIFTS INJUNCTION ON BENEFICIAL OWNERSHIP INFORMATION REPORTING
On December 23, 2024, the Fifth Circuit Court of Appeals lifted the nationwide injunction issued on December 3, 2024 on enforcement of...
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C. Richard Wilkins
Dec 18, 20241 min read
FinCEN STAYS MANDATORY SUBMISSION OF BENEFICIAL OWNERSHIP INFORMATION
On December 3, 2024, the United States District Court for the Eastern District of Texas issued an order granting a nationwide preliminary...
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C. Richard Wilkins
Jul 18, 20241 min read
LIFE INSURANCE PROCEEDS FOR REPURCHASE OF DECEASED BUSINESS OWNER’S STOCK MAY RESULT IN ESTATE TAX LIABILITY
On June 6, 2024, the Supreme Court of the United States ruled in Connelly v. United States that proceeds of a life insurance policy...
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C. Richard Wilkins
Mar 5, 20241 min read
FEDERAL COURT HOLDS CORPORATE TRANSPARENCY ACT UNCONSTITUTIONAL
In a decision released on Friday, March 1, 2024, Judge Liles C. Burke of the U. S. District Court for the Northern District of Alabama...
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C. Richard Wilkins
Dec 28, 20231 min read
IRS PROVIDES TAXPAYERS RELIEF FROM 2020 AND 2021 TAX RETURN PENALTIES
The Internal Revenue Service announced on December 19, 2023 new penalty relief for individuals, businesses and tax-exempt organizations...
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C. Richard Wilkins
May 31, 20231 min read
TAXING AUTHORITY’S RETENTION OF TAX SALE PROCEEDS EXCEEDING TAX DEBT UNCONSTITUTIONAL
In an opinion issued May 25, 2023, the Supreme Court of the United States ruled that retention by a County of tax sale proceeds in excess...
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C. Richard Wilkins
Mar 8, 20231 min read
TAX DEADLINE EXTENDED TO OCTOBER 16 FOR DISASTER AREA TAXPAYERS
On February 24, 2023, the Internal Revenue Service announced that taxpayers in parts of Alabama now have until October 16, 2023, to file...
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C. Richard Wilkins
Feb 9, 20231 min read
SECURE 2.0 Act of 2022
The SECURE 2.0 Act of 2022 was passed by Congress in late 2022 as part of the Consolidated Appropriations Act of 2023 and was signed into...
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C. Richard Wilkins
Jan 17, 20231 min read
FTC PROPOSES RULE TO BAN NONCOMPETE CLAUSES
On January 5, 2023, the Federal Trade Commission proposed a new rule that would ban employers from imposing noncompetes on their workers....
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