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Josh P. Concepcion
In a significant update regarding the enforcement of the Corporate Transparency Act (CTA), the Financial Crimes Enforcement Network (FinCEN) has confirmed that companies are not required to file Beneficial Ownership Information (BOI) reports at this time due to an outstanding nationwide injunction. However, reporting companies may continue to voluntarily submit…
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Jeanne L. Vance, Josh P. Concepcion
The Supreme Court of the United States has stayed the nationwide injunction against enforcement of the Corporate Transparency Act (CTA), allowing the government to resume implementation of the law while litigation continues. Therefore, organizations are again required to make beneficial ownership interest reports to the U.S. Treasury Department’s Financial Crimes…
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Jeanne L. Vance, Josh P. Concepcion
The Fifth Circuit ordered that a nationwide injunction be restored against enforcement of mandatory reporting obligations under the Corporate Transparency Act (CTA) on December 26, 2024. This means that any beneficial interest reporting by entities at this point is voluntary. The CTA is a landmark law requiring businesses to disclose…
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Jeanne L. Vance, Josh P. Concepcion
On December 23, 2024, the Fifth Circuit Court of Appeals granted the government’s emergency motion for a stay, effectively blocking a nationwide injunction issued by a district court against the Corporate Transparency Act (CTA) and its corresponding Reporting Rule. While this decision preserves the CTA’s reporting requirements, the Financial Crimes…
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Weintraub Shareholder Jeffrey Pietsch authored chapters 17 and 18 for the Continuing Education of the Bar (CEB) publication “Financing and Protecting California Businesses.” The publication covers the practical issues of raising capital, tax and regulatory compliance, and protection of business operations. The guide is available for purchase on the CEB…
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Tenzing Tunden
This article was originally published in California Tax Lawyer magazine, Vol. 33 No. 1. Given the current state of the real estate market, more and more taxpayers find themselves with real properties that are either vacant or facing difficulty in filling leases, that they would like to sell, and they…
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Since 1986, when Proposition 58 passed, certain transfers of real property between parents and their children have been excluded from reassessment for purposes of determining property taxes. Proposition 58 provided an exclusion from reassessment for (1) a principal residence of the transferring parent, and (2) the first $1 million of…
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In December 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the CAA). In total, the CAA provides $900 billion in COVID relief, including $284 billion for additional Paycheck Protection Program (PPP) loans for new borrowers and “second draw” loans for existing borrowers. The eligibility requirements for a…
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