If you grow or are interested in growing specialty crops, the Mid-Ohio Grower’s meeting is a great conference to kick-off 2025. You can find more information about the conference using this link. There is a good line-up of speakers as well as vendor space with plenty of opportunity to network with other folks in the specialty crop industry.
Written by Jeffrey K. Lewis, Esq., Program Coordinator, Income Tax Schools
The Court of Appeals for the Fifth Circuit has given us another holiday surprise! The nationwide injunction on the Corporate Transparency Act (“CTA”) and its beneficial ownership information (“BOI”) reporting requirements is once again in effect.
On December 23, 2024, we reported that the Court of Appeals for the Fifth Circuit had lifted a nationwide injunction on the CTA and its BOI reporting requirements. Consequently, all reporting obligations were reinstated for businesses nationwide. Following the Fifth Circuit’s decision to stay the injunction, the Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) extended the filing deadline for most reporting companies to January 13, 2025. We knew at the time that this would not be the last we would hear of the CTA and BOI reporting requirements, but what we did not know was how quickly another update would occur.
On December 26th, just days after lifting the nationwide injunction, the Fifth Circuit issued another order vacating its stay, effectively reinstating the nationwide injunction and halting the BOI reporting requirements under the CTA once more. The court ruled that the order from the motions-panel granting the stay on the injunction be vacated “in order to preserve the constitutional status quo while the merits panel considers the parties’ weighty substantive arguments. . .” Continue reading Corporate Transparency Act Reporting Requirements Suspended Once Again . . . For Now
Four new articles have been posted in this week’s issue number 1427 of the Ohio BEEF Cattle letter: http://u.osu.edu/beef/
Hope you all had a great Holiday . . . after the summer we experienced who could have imagined it would be a muddy one? This week we explore the challenges mud can present.
Articles this week include:
Newsletter release by Stan Smith, OSU Extension ANR Program Assistant, Fairfield County
Written by Jeffrey K. Lewis, Esq., Program Coordinator, Income Tax Schools.
In a recent blog post, we discussed a federal district court’s issuance of a nationwide injunction against the Corporate Transparency Act (“CTA”), temporarily halting the requirement for businesses to file “beneficial ownership information” (“BOI”) reports with the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”). In that post, we promised to keep you updated on the legal status of the CTA and its BOI reporting requirements. Well, we are here to tell you that the saga continues . . .
As of December 23, 2024, that nationwide injunction is no longer enforceable, and the BOI reporting requirements of the CTA have been reinstated. The Court of Appeals for the Fifth Circuit issued a temporary stay on the nationwide injunction. The Fifth Circuit found that the government made a strong showing that it is likely to succeed in proving that the CTA is constitutional. The court explained that Congress exercised its broad authority under the Commerce Clause to pass the CTA, aiming to regulate the anonymous ownership and operation of businesses that constitute an “economic class of activities” significantly affecting interstate commerce. Consequently, the court determined that the reporting requirement for such businesses is within the scope of the Commerce Clause. Continue reading Federal Appeals Court Reinstates Corporate Transparency Act Reporting Requirements