A federal court in Texas has issued an injunction preventing the enforcement of the Corporate Transparency Act and Beneficial Ownership Information (BOI) reporting until the case is resolved. Melanie Lauridsen, Vice President of Tax Policy & Advocacy for the American Institute of CPAs (AICPA), stated: “The AICPA has closely monitored recent developments in the courts regarding the BOI reporting requirements that are due on January 1, 2025.” The Department of Justice (DOJ) has filed a notice of appeal to the Fifth Circuit court, seeking a stay and challenging the injunction, which halts the Financial Crimes Enforcement Network (FinCEN) from enforcing BOI reporting nationwide.
Court halts Corporate Transparency Act
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