Nationwide injunction halts BOI filing requirements—here’s what it means for your business.
December 16, 2024 – Accavallo & Company LLC Businesses across the United States received a major update regarding the Beneficial Ownership Information (BOI) filing requirements under the Corporate Transparency Act (CTA). A federal district court has issued a nationwide injunction halting the enforcement of these requirements, citing constitutional concerns. What Does This Mean for Businesses? […]
Understanding BOI Filing Requirements: A Guide for Business Owners under the Corporate Transparency Act
The depth of financial reporting for small business owners is on the brink of change, as the Beneficial Ownership Information (BOI) filing requirement is set to take effect on January 1, 2024. Enacted through the Corporate Transparency Act and finalized by the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN), this regulation aims to […]