On December 23, 2024, the U.S. Fifth Circuit Court of Appeals issued an Order that served to stay the nationwide preliminary injunction in respect of CTA enforcement. In that ruling, the Fifth Circuit found the government met its burden to show that the nationwide injunction was not appropriate.
In response to the ruling, FinCEN has extended the filing deadline for most reporting companies until January 13, 2025. This gives you 12 extra days.
A link to the full court order is here.
See our video LLCs, Corporations and Trusts; Comply to Corporate Transparency Act by 31 December 2024 to Avoid Steep Penalties. which gives you step-by-step instructions as to how to file Beneficial Ownership Report (BOI).
The penalties are more than $500 per day so this is NOT something to mess around with.
You can also contact Torchlight Tax at 877 758 7797 or info@torchlighttax.com if you want us to do it for you.
