On December 23, 2024, a three-judge panel of the United States Court of Appeals for the Fifth Circuit stayed the nationwide preliminary injunction, reinstating the reporting requirements under the Corporate Transparency Act for millions of companies.
FinCEN has updated its alert to include an extension of the initial January 1, 2025, reporting deadline, referring to the Department of Treasury’s recognition that reporting companies may need additional time to comply with the reporting requirements.
Reporting companies formed or registered prior to January 1, 2024, now have until January 13, 2025, to file their initial Beneficial Ownership Information reports.
Reporting companies formed or registered on or after September 4, 2024, that originally had a filing deadline between December 3, 2024, and December 23, 2024, also have until January 13, 2025, to file their initial Beneficial Ownership Reports.
Reporting companies formed or registered on or after December 3, 2024, and on or before December 23, 2024, have an additional 21 days from their original filing deadline to file their initial Beneficial Ownership Reports.
The German financial centre beat off competition from eight others as the EU puts the final touches to dirty-money reforms. Frankfurt has won the race to host the EU’s prestigious new anti-money laundering
The US Treasury Department and the Securities and Exchange Commission proposed new rules that aim to keep investment funds from being used to launder money or fund terrorist activity. US authorities
President-elect Donald Trump’s embrace of cryptocurrency and blockchain is raising concerns that so-called “blockchain billionaires” could gain direct influence over the White House
IRS reforms in 2025 could bring tax simplification, lower corporate taxes, and changes to wealth taxes. Here’s what you need to know to prepare for these changes. Major IRS Reforms Coming In 2025