J. Chesley Burruss

2 months ago | jdsupra.com | J. Chesley Burruss |Siana Danch |Terence M. Grugan

Maksym Kaharlytskyi, UnsplashDevelopments concerning the enforceability and enforcement of the CTA came at a rapid clip last week. As things stand, the government may enforce the CTA pending a Texas court appeal in Smith v. U.S. Department of the Treasury. FinCEN indicated its intent to enforce the CTA but provided reporting companies with a revised deadline to submit the required reports. We have previously blogged about the litigation here and here.

Dec 9, 2024 | jdsupra.com | Sterling Moose Busbee |J. Chesley Burruss |Siana Danch

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Oct 2, 2024 | jdsupra.com | J. Chesley Burruss |Siana Danch |Peter Hardy

Various industry groups have filed lawsuits in multiple federal districts challenging the constitutionality of the Corporate Transparency Act (“CTA”). The first such suit, filed in the Northern District of Alabama, resulted in a ruling by the District Court that the CTA was unconstitutional because Congress lacked the authority to enact the CTA. The government appealed this ruling, and the Eleventh Circuit heard oral argument on Friday, September 27.