More whiplash/confusion from the Corporate Transparency Act

By Jeffrey K. Lewis, Esq., Attorney and Program Coordinator, Income Tax Schools at The Ohio State University

The Supreme Court of the United States (SCOTUS) has issued its decision concerning the nationwide injunction against the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements. On Thursday, January 23, 2025, SCOTUS ruled to allow the Government to enforce the CTA, which requires millions of businesses to file BOI reports. The justices stayed, or lifted, the nationwide injunction that had been blocking the CTA’s enforcement. This decision permits the government to proceed with implementing the CTA while its merits are reviewed by the U.S. Court of Appeals for the Fifth Circuit, which is scheduled to hold oral arguments on March 25. However, that is not the full story.

A recap of the Texas Top Cop Shop case 
In the Texas Top Cop Shop case, a U.S. District Court for the Eastern District of Texas issued a nationwide injunction against the enforcement of the CTA and its beneficial ownership BOI reporting requirements.… Continue reading