Entries by Tax Attorney

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 […]

Jews Granted Minority Status By U.S. Department Of Commerce, Opening Access To Billions In Benefits

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In a landmark agreement, the U.S. Department of Commerce during the Biden administration announced it has officially recognized Jewish-owned businesses as Minority Business Enterprises (“MBE”). This designation, formalized through a memorandum of understanding (“MOU”) between the Orthodox Jewish Chamber of Commerce and the Minority Business Development Agency (“MBDA”), enables Jewish entrepreneurs to access a plethora of federal […]

Former DEA Official Derek Maltz: Trump’s nominee to lead the DEA. What Could This Mean To The Future Of Cannabis Rescheduling?

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On January 20, 2025 President Trump named Derek Maltz to take over as DEA administrator on an interim basis.  Since his previous retirement from the DEA, Maltz was working as head of government relations for a software company.   Maltz, whose 28-year DEA career included 10 years as special agent in charge of the agency’s Special […]

Former Missouri Congressman and Auctioneer – Billy Long: Trump’s nominee to lead IRS. What Could This Mean To The Future Of IRS Tax Enforcement?

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Danny Werfel who was sworn in as the 50th IRS Commissioner on April 4, 2023 announced his resignation effective January 20, 2025 even though his current 4-year term does not expire until 2027.  Donald Trump who will be inaugurated as President on January 20, 2025 has named his nominee, former U.S. Representative Billy Long of […]