On August 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act. The final rule is effective on its publication in the Federal Register. FinCEN also announced that it will delete previously reported information by U.S. persons now exempt from the repo

On November 25, 2025, a Federal Court issued an Order which potentially impacted the manner by which federal tax deadlines imposed during the COVID‑19 emergency period should be interpreted and whether certain penalties and interest were properly assessed. In Kwong v. United States, 179 Fed. Cl. 382 (2025), the United States Court of Federal Claims interpreted the mandatory disaster-relief postponement provision in Section 7508A of the Internal Revenue Code enacted during the

WASHINGTON––Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act. In that interim final rule, FinCEN revises the definition of “reporting company” in its implementing regulations to mean only those entities

On February 27, 2025 FinCEN issued an ANNOUNCEMENT that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current March21, 2025 deadline. No fines or penalties will be issued, and no enforcement actions will be taken, until an interim final rule becomes effective and the new relevant due date

On February 18, 2025, the U. S. District Court for the Eastern District of Texas lifted the stay on enforcement of the Beneficial...

On December 23, 2024, the U. S. Court of Appeals for the Fifth Circuit Court lifted the nationwide injunction issued on December 3, 2024...

On December 23, 2024, the Fifth Circuit Court of Appeals lifted the nationwide injunction issued on December 3, 2024 on enforcement of...

On December 3, 2024, the United States District Court for the Eastern District of Texas issued an order granting a nationwide preliminary injunction: (1) enjoining enforcement of the United States Treasury Department’s Corporate Transparency Act, including regulations implementing the act’s beneficial ownership information reporting requirements, and, specifically, (2) staying all deadlines, most notably the December 31, 2024 deadline, by which businesses must comply with the

On June 6, 2024, the Supreme Court of the United States ruled in Connelly v. United States that proceeds of a life insurance policy...

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...

The Internal Revenue Service announced on December 19, 2023 new penalty relief for individuals, businesses and tax-exempt organizations...

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...

On February 24, 2023, the Internal Revenue Service announced that taxpayers in parts of Alabama now have until October 16, 2023, to file...

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...

On January 5, 2023, the Federal Trade Commission proposed a new rule that would ban employers from imposing noncompetes on their workers....