On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced an interim final rule eliminating the requirement for U.S. companies to report beneficial ownership information under the Corporate Transparency Act (CTA). This change redefines "reporting company" to include only foreign entities registered to do business in the U.S. Also, the rule provides that all U.S. beneficial owners are now exempt from the disclosure requirements.…

In yet another turn of events, the U.S. Department of Treasury announced over the weekend that it will not be enforcing any penalties or fines associated with the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting rule, even after any forthcoming rule changes that we discussed in our alert on Friday, February 28 take effect. According to its press release, the Treasury Department will…

Despite what experts had thought, yet another update on the Corporate Transparency Act (CTA) was released yesterday. Last week, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) announced an extended filing deadline of March 21, 2025 as an immediate response to the decision from the U.S. District Court for the Eastern District of Texas lifting the injunction staying CTA enforcement. On February 27,…

On January 14, 2025, the U.S. Environmental Protection Agency (EPA) issued a draft risk assessment to evaluate the disposal of sewage sludge containing the forever chemicals PFOA and PFAS. Sewage sludge refers to the nutrient-rich biosolids that remain after wastewater is sent to a wastewater treatment plant. The two most common disposal/re-use applications of sewage sludge are: (1) reuse as fertilizer; and (2) disposal in…

In the latest news, on February 17, 2025, the U.S. District Court for the Eastern District of Texas lifted the previously issued preliminary injunction on the enforcement of the Corporate Transparency Act (CTA). Given this decision, beneficial ownership information (BOI) reporting requirements are once again back in effect and mandatory. As a result, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) is providing…

When the growth of the property tax expense outpaces rental revenue, property owners must be creative in an effort to maximize their net operating income (NOI). For decades, savvy property owners have been utilizing their roofs for just that. The roof can be a valuable asset in two main areas: installation of telecommunication equipment (most commonly, cellular phone antennas) and placement of solar panels. This…

The month of December has been a roller coaster for most business owners with respect to their Beneficial Ownership Interest (BOI) filing obligations under the Corporate Transparency Act (CTA).  In the latest news, on December 26, 2024, the Fifth Circuit Court of Appeals vacated its stay and reinstated the nationwide injunction prohibiting the CTA from being enforced.  The injunction, first issued on December 3, 2024…