TBA Law Blog


Posted by: Stacey Shrader Joslin on Dec 26, 2024

A federal appeals court this week reinstated a looming deadline for businesses to comply with a new law aimed at cracking down on money laundering, Bloomberg Tax reports. The U.S. 5th Circuit on Monday lifted an injunction that had blocked enforcement of the Corporate Transparency Act, which requires an estimated 32.6 million entities to disclose who owns and controls their businesses by Jan. 1, 2025. The U.S. Treasury Department’s Financial Crimes Enforcement Network had pushed back the deadline to Jan. 13, 2025, after the injunction was imposed earlier this month.