Fifth Circuit Seeks Input on Corporate Transparency Act Walkback

The Fifth Circuit asked the parties in the Corporate Transparency Act litigation to file briefs on how the government’s decision not to enforce fines against domestic businesses could affect the case.

Briefs are due to the US Court of Appeals for the Fifth Circuit by March 17. This follows the Treasury Department’s March 2 announcement it wouldn’t enforce fines and penalties against US citizens or domestic reporting companies or their beneficial owners for noncompliance with the Act. The CTA is set to go into effect March 21, and would require millions of American business entities to report information on their ...