After a December 26, 2024 order by the United States Appeals Court of the Fifth Circuit (the “Appeals Court”), enforcement of the Corporate Transparency Act (the “CTA”) is once again blocked. Based upon this latest ruling, entities are not required to comply with the reporting deadlines imposed by the CTA at this time.
The Appeals Court’s order comes days after a separate panel of Judges from the same Appeals Court issued an order on December 23, 2024 which un-blocked enforcement of the CTA and required entities to comply with the reporting deadlines imposed by the CTA. The panel of Appeals Court judges that blocked the CTA on December 26, 2024 will be the panel that hears the merits of the case seeking to permanently block enforcement of the CTA.
Please contact our Business and Tax Law Practice Group to ensure your business complies with the CTA.
See our previous blogs for more information on the CTA:
- URGENT UPDATE: Federal Circuit Court Stays Corporate Transparency Act Injunction — Reporting Companies Required to File by January 13, 2025
- United States District Court Blocks Corporate Transparency Act Ahead of Looming Deadline
- Reminder: Corporate Transparency Act Compliance Deadline is December 31, 2024 (or Sooner)
- Alabama Federal District Court Rules the Corporate Transparency Act Unconstitutional — What Does It Mean for Your Business?
- Pulling Back the Curtains on Business Entities: The Corporate Transparency Act
The CTA enforcement is in constant flux. If you have not already complied with the CTA, you should consult with our Business and Tax Law Practice Group and pay attention to future updates that may impact the Appeals Court’s order.
Craig Panholzer is an attorney in Cooper Levenson’s Business & Tax practice group in its Florida office. He concentrates his practice on business transactions, estate planning, special needs planning, probate and tax matters. Craig may be reached at (954) 889-1856 or via e-mail at cpanholzer@cooperlevenson.com.
Steven Land is an attorney in Cooper Levenson’s Business & Tax practice group in its Atlantic City office. He concentrates his practice on business transactions, mergers and acquisitions, tax matters, and estate planning. Steven may be reached at (609) 572-7530 or via e-mail at sland@cooperlevenson.com.