January 26, 2025 — Lili Martin-Mashburn was recently featured in The Business Journal regarding the Supreme Court’s injunction of the Corporate Transparency Act.
After the Supreme Court's decision, small businesses will not yet be required to report beneficial ownership information to the Treasury Department. The Financial Crimes Enforcement Network released a statement shortly after the ruling stating that due to ongoing litigation and a separate nationwide injunction in a related case (Smith v. U.S. Department of the Treasury), it will not issue a new deadline to file requested ownership information.
"While the Court’s decision suggests the CTA may soon be reinstated, this largely depends on whether the government decides to appeal the Smith ruling, which remains unclear under the new administration," Martin-Mashburn said in a statement, stressing there were also ongoing congressional attempts to repeal the requirement.
