The Dept. of Justice, on behalf of FinCEN, filed a motion to appeal and stay the injunction in the Samantha Smith, et al. v. US Dept. of Treasury BOI case. The motions filed appeal the Court's BOI ruling and request a stay on the current inunction on BOI reporting. Given the recent Supreme Court…
The <a href="https://www.finance.senate.gov/ranking-members-news/crapo-wyden-issue-discussion-draft-to-improve-irs-administration" target="_blank" rel="noopener noreferrer" data-link-type="web">United States Senate Committee on Finance has released a bipartisan discussion draft intended to…
Look for more information in our next Legislative Update, but here is an overview of the Governor's tax proposals that were contained in the budget from Commissioner Bolio. This will get substantial review in the Committee over the next few weeks. You can read more <a…
It was announced January 24 that Justin Wicks, VT CPA member, and Amy Strachan have been appointed to the Vermont Board of Public Accountancy.
Congratulations and look for more info to come!
The Supreme Court granted a stay on the December 5, 2024, order from the Eastern District of Texas relating to BOI (Beneficial Ownership Information) reporting. This means the preliminary injunction has been lifted while the case goes through the appeals process in the Fifth Circuit (and potentially the Supreme…
The BOI reporting requirements continue to change.
December 31, 2024: the Justice Department (DOJ) filed an emergency application with the Supreme Court asking it to stay the district court injunction that is preventing the government from enforcing the CTA and its requirements to report BOI while the…
December 26, 2024, the Fifth Circuit Court vacated the motion to stay the injunction. This decision means that FinCEN no longer has the authority to enforce BOI reporting requirements at this time.
AICPA is in contact with FinCEN for clarification. For now, FinCEN has not updated their website or confirmed…
The 5th Circuit Court of Appeals has reversed its previous rejection of FinCEN's appeal of the BOI injunction. This decision effectively lifts the injunction. However, for those with an initial deadline of January 1, 2025, the deadline has now been extended to January 13, 2025.
For companies…
The resolution in Congress, which included the BOI delay, will not advance in its current form through the Senate. There is significant momentum to strip all non-funding measures from the government funding resolution--this includes the BOI delay.
Now is the time to act! You can contact our Congresspeople and…
This content was updated 12/10/24 at 8.22 AM.
On December 3, a federal judge in the U.S. District Court of the Eastern District of Texas issued a nationwide preliminary injunction against enforcement of the Corporate Transparency Act's Beneficial Ownership Information (BOI) reporting…