by Steven R. Antico, Leonard M. Rosenberg, Marc A. Sittenreich | Dec 31, 2024
On December 26, 2024, the Fifth Circuit Court of Appeals issued an unsigned order that once again pauses the federal government’s ability to enforce the Corporate Transparency Act (CTA) and its “Reporting Rule.” As we have previously explained, that rule requires the vast majority of privately held entities in the United States to report detailed information about their “beneficial owners” (BOI Report) to the Financial Crimes Enforcement Network. The rule was initially blocked by a Texas federal district court on December 3, 2024, but on December 23, 2024 a three-judge panel of the Fifth Circuit reversed the district court’s ruling and temporarily allowed the CTA and Reporting Rule to move forward. The December 26 order was issued by a different panel of judges, who restored the district court’s ruling while they consider the government’s emergency appeal.
by Steven R. Antico, Leonard M. Rosenberg, Marc A. Sittenreich | Dec 24, 2024
On December 23, 2024, the Fifth Circuit Court of Appeals issued an order allowing the federal government to enforce the Corporate Transparency Act (CTA) and its “Reporting Rule.” Under that rule, the vast majority of privately held entities created or registered to do business in the United States (Reporting Companies) must report detailed information about their owners to the Financial Crimes Enforcement Network (FinCEN). The reporting requirement had been paused by a Texas federal district court just under three weeks earlier, on December 3, 2024. The Fifth Circuit ruling reverses the Texas district court’s ruling pending the government’s appeal.
by Stacey L. Gulick, Kathleen M. Brown | Dec 23, 2024
We previously reported that Congress issued stopgap government funding legislation that extended current telehealth waivers and flexibilities through December 31, 2026. However, as a result of unrelated 11th hour political negotiations, the initial proposed legislation containing the full two-year extension was withdrawn.
On December 20, 2024, Congress passed the American Relief Act 2025 (“H.R. 10545”), which was signed into law by President Biden on December 21, 2024.
by Stacey L. Gulick, Kathleen M. Brown | Dec 20, 2024
We previously let you know that the Medicare telehealth waivers would be extended based upon Congressional action. Unfortunately, at the 11th hour, the waivers did not go through and there has been much vacillation about next steps by Congress. Therefore, the status of the Medicare telehealth waivers remains unclear. We are monitoring the situation, and will keep you updated when we learn anything definitive.
by Doris L. Martin, Kristen M. Walsh, Bianca DeLeon | Dec 19, 2024
Estate planning has been challenging in recent years. Drastic changes were proposed but not enacted, and a major reduction to the Federal estate and gift tax exemption scheduled for 2026 may not occur as a result of the new administration. Individuals who have sufficient wealth to be subject to estate taxes face uncertainty. However, we do know that the sooner you act, the more options you have. Please take a moment to consider our suggestions and let us know how we can help you implement and realize your goals.
