Corporate Transparency Act Update
In an earlier post, we reported on the Corporate Transparency Act (CTA). The CTA requires that certain companies file a Beneficial Ownership Information report with the Financial Crimes Enforcement Network (“FinCEN”). See, https://spelusolawoffice.com/wp-admin/post.php?post=2126&action=edit. On March 1, 2024, the U.S. District Court of the Northern District of Alabama ruled that the CTA is unconstitutional and enjoined FinCEN from implementing the CTA....