Entries by Tax Attorney

FinCEN Issues Final Rule Limiting Reporting Requirements in Connection with Beneficial Ownership Information Reporting Deadlines under the Corporate Transparency Act

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“This is a victory for common sense,” said U.S. Secretary of the Treasury Scott Bessent.  “[This] action is part of President Trump’s bold agenda to unleash American prosperity by reining in burdensome regulations, in particular for small businesses that are the backbone of the American economy.” The Federal government in its efforts to crack down […]

West Virginia Storm Victims Qualify For IRS Tax Relief

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On March 14, 2025 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in parts of West Virginia affected by severe storms, straight-line winds, flooding, landslides and mudslides that began on February 15, 2025. These taxpayers now have until November 3, 2025, to file various federal individual and business tax returns and make tax payments. […]

FinCEN Immediately Suspending Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines under the Corporate Transparency Act

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“This is a victory for common sense,” said U.S. Secretary of the Treasury Scott Bessent.  “Today’s action is part of President Trump’s bold agenda to unleash American prosperity by reining in burdensome regulations, in particular for small businesses that are the backbone of the American economy.” The Federal government in its efforts to crack down […]

FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines pursuant to the Corporate Transparency Act

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Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Not Yet In Force. The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29, 2022 issued a final ruling establishing a beneficial ownership information reporting requirement, pursuant to the Corporate Transparency Act (CTA). This rule will […]

District Court Reinstates Corporate Transparency Act Enforcement

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Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Back In Force. The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29, 2022 issued a final ruling establishing a beneficial ownership information reporting requirement, pursuant to the Corporate Transparency Act (CTA). This rule will require most […]

Now That Pam Bondi Is Serving As Attorney General In Trump’s Second Term, How Will The U.S. Attorneys’ Office Support Or Hinder The Cannabis Industry?

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During President Trump’s 2016 campaign, he supported medical marijuana and deferred recreational use decisions to individual states. However, his first administration took a stringent approach, with then Attorney General Jeff Sessions rescinding Obama-era guidelines that limited federal interference in state-legal cannabis activities. The Growing Trend In Legalizing Cannabis – Current Standings: Medical marijuana is legal […]

Supreme Court Allows Corporate Transparency Act Enforcement

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Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Back In Force By The Highest Court. The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29, 2022 issued a final ruling establishing a beneficial ownership information reporting requirement, pursuant to the Corporate Transparency Act (CTA). This […]