12.26.2024 BOI Reporting UPDATE

 

UPDATE - Corporate Transparency Act and Beneficial Ownership Interest Reporting   12.26.2024 I am sending an update for the BOI reporting. Late on December 23, 2024 the 5th Circuit Court of Appeals removed the injunction against filing the BOI report.   What does this mean? It means that once again the reporting requirements are back on, immediately! FinCen did delay the reporting due date until January 13, 2025 for the estimated 25 million businesses expected to file. If you have previously worked with us on your drafted reports and signed off approving the filings (you would have been in correspondence with either Heather or Paula), we will be filing the reports and you will be receiving a confirmation and bill from our office for this service. IF you wish to file on your own, please follow the link here: https://fincen.gov/boi Our office will remain closed through January 1st, so we will not be able to answer any immediate questions regarding this matter, but we will be happy to address any questions once we are back in the office.    On November 11, 2024, our firm sent out an email relating to The Beneficial Ownership Interest (BOI) reporting that was being required under the Corporate Transparency Act.    UPDATE 12.04.2024 - In a turn of events last night, a US District Court in Texas issued an injunction and the Corporate Transparency Act has been blocked nationwide. I don't have any other explanations or answers at this point in time, but we will keep everyone updated as needed. At this point in time, we have not filed any client reports as that was on our to do list this week. We will maintain all signed reports and correspondence in each client's file. If you have already pre-paid for this service, your account will be credited and the credit will be applied to your 2024 tax return.    This is just how things go when you're dealing with the government.   Here are a some of the articles that have been sent to us by reputable agencies.  https://news.bloomberglaw.com/daily-labor-report/corporate-transparency-act-blocked-nationwide-by-texas-court?utm_source=TaxSpeaker%20Subscribers&utm_campaign=8a1f6d28ee-BOI%20Filing%20Requirement%20Update_COPY_01&utm_medium=email&utm_term=0_-a71d3d9133-%5BLIST_EMAIL_ID%5D&ct=t%28BOI%20Filing%20Requirement%20Upate_COPY_01%29&mc_cid=8a1f6d28ee&mc_eid=4ef1455565   https://strgnfibcom.blob.core.windows.net/nfibcom/665615bc54963-665615bc54964Texas-Top-Cop-Shop-Inc.-et-al.-v.-Garland-et-al.-Complaint-5.28.24.pdf.pdf   https://natlawreview.com/article/texas-federal-court-blocks-corporate-transparency-act-halts-nationwide-enforcement#google_vignette   Thanks for your understanding,  -Haley Gardner and Team at Haley M. Gardner, CPA, PLLC