Lisa and the Law
Welcome to Lisa and the Law, the official blog of Thompson Law Group. Information is power and here is where you get some. Lisa shares timely insights on business law matters and practical advice for business owners. Whether you’re a business owner navigating compliance requirements or seeking clarity on legal issues and best practices, this blog will keep you informed on the latest legal developments and practical strategies to help you stay ahead. Stay tuned for updates on the law, practical insights and actionable advice from an experienced business law attorney.
5th Circuit Reverses Stay, CTA Enforcement Paused Again
The 5th Circuit Court of Appeals reverses its December 23, 2024 stay and puts the enforcement of the CTA on pause again. THIS MEANS THAT AS OF DECEMBER 26, 2024...
FinCEN extends the deadline to file BOIRs to January 13, 2024.
FinCEN extends the deadline to file BOIRs to January 13, 2024. Related Services: CTA Compliance
5th Circuit Reinstates CTA Enforcement, BOIR Filing Deadline Back to December 31, 2024
The 5th Circuit Court of Appeals grants a stay to the preliminary injunction against enforcement of the Corporate Transparency Act. THIS REIMPOSES the December 31, 2024 deadline to file BOIRs....
Three Courts Decline CTA Injunction; Texas Ruling Temporarily Blocks Enforcement Nationwide
3 to 1 – Preliminary Injunctions prohibiting the enforcement of the CTA were NOT issued by three other federal District Courts Federal District Courts in Michigan, Oregon and Virgina denied...
The CTA remains law, but its enforcement is suspended. The ruling has been appealed.
The December 3, 2024 ruling by a Texas District Court did NOT declare the CTA unconstitutional and the CTA has not been struck down as has been reported by many...
Texas District Court temporarily SUSPENDS deadlines for BOIR filings nationwide
On December 3, 2024, the enforcement of the Corporate Transparency Act (CTA) was temporarily suspended. The CTA still remains law, but it will not be enforced until further order of...
Only 100,000 of the estimated 1.4 million Arizona businesses required to report to FinCEN have filed their BOIRs
The Arizona Corporation Commission stated that only 100,000 of the 1.4 million Arizona businesses required to report to FinCEN to comply with the CTA have filed their BOIRs. I think...
Beware – Third-Party Filing companies may not ask all the right questions
I know of no third-party reporting company that is making a distinction between businesses formed in community and non-community property states. Failure to report a spouse as beneficial owner may...
Spouses in community property states may need to be disclosed as Beneficial Owners on BOIRs
If you live in a community property state and you have actual 25% ownership of a company, your spouse is a beneficial owner as well and needs to be disclosed...
EIN/TIN not required to file a BOIR
FinCEN no longer requires businesses that do not have an EIN to obtain one solely for the purposes of filing a Beneficial Ownership Information Report (BOIR). Businesses that do not...