McGeehan Law
McGeehan Pascale, PLC
Attorneys & Counsellors at Law​
3554 Chain Bridge Road, Suite 205
Fairfax, VA 22030
​703.273.5303
 
  • Home
  • Practice Areas
    • Business Bankruptcy
    • Business Entity Termination
    • Business Litigation & Alternative Dispute Resolution
    • Compliance & Risk Management
    • Creditor's Rights & Commercial Asset Recovery
    • Employment
    • Estates, Trusts & Probate
    • General Business Representation
    • Intellectual Property
    • Real Estate
  • Priority Business Client Program
  • Our People
    • Attorneys >
      • John P. McGeehan
      • Nicholas Pascale
    • Staff >
      • Daria McGeehan
      • Robin Naseem
  • Contact Us
  • Biz Buzz
  • New Page
McGeehan Law

Update on the corporate transparency act ("CTA")

12/9/2024

 
​In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.
---
On Tuesday, December 3, 2024, in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., No. 4:24-cv-00478 (E.D. Tex.), a federal district court in the Eastern District of Texas, Sherman Division, issued an order granting a nationwide preliminary injunction that: (1) enjoins the CTA, including enforcement of that statute and regulations implementing its beneficial ownership information reporting requirements, and, specifically, (2) stays all deadlines to comply with the CTA’s reporting requirements. The Department of Justice, on behalf of the Department of the Treasury, filed a Notice of Appeal on December 5, 2024.
 
Texas Top Cop Shop is only one of several cases in which plaintiffs have challenged the CTA that are pending before courts around the country. Several district courts have denied requests to enjoin the CTA, ruling in favor of the Department of the Treasury. The government continues to believe—consistent with the conclusions of the U.S. District Courts for the Eastern District of Virginia and the District of Oregon—that the CTA is constitutional.
 
While this litigation is ongoing, FinCEN will comply with the order issued by the U.S. District Court for the Eastern District of Texas for as long as it remains in effect. Therefore, reporting companies are not currently required to file their beneficial ownership information with FinCEN and will not be subject to liability if they fail to do so while the preliminary injunction remains in effect. Nevertheless, reporting companies may continue to voluntarily submit beneficial ownership information reports.

Comments are closed.

    Author

    John P. McGeehan is the managing member of McGeehan Pascale, PLC. His practice focuses on business structures, especially new, emerging, small businesses and not for profit organizations, all business transactions, employment law, real estate, commercial leasing, estate planning and litigation before administrative agencies and all courts.

    Archives

    February 2025
    December 2024
    March 2024
    February 2024
    February 2021
    January 2021
    September 2020
    July 2020
    April 2020
    March 2020
    September 2018
    August 2018
    May 2018
    March 2018
    May 2016
    March 2016
    October 2015

    Categories

    All

    RSS Feed

we COVID 19 VIRUS PROCEDURES

mCgeehan pascale, plc IS TAKING PRECAUTIONS IN LIGHT OF THE CDC ADVICE FOR THE CORONAVIRUS.  WE ARE WORKING EVERY DAY TO ANSWER QUESTIONS, DRAFT DOCUMENTS AND OTHERWISE TO SERVE OUR CLIENTS' LEGAL NEEDS.   ALL OF OUR STAFF ARE IN GOOD HEALTH AND OUR WISH FOR OUR CLIENTS IS THAT THEY ALSO REMAIN IN GOOD HEALTH.   IF THE NEED ARISES, OUR EMPLOYEES HAVE PAID SICK LEAVE AVAILABLE TO THEM.  IF THAT OCCURS, WE MAY TAKE A BIT LONGER FOR SOME THINGS, FOR WHICH WE ASK YOUR UNDERSTANDING.   IF POSSIBLE, WE ASK THAT OUR CLIENTS AND ATTORNEYS WITH WHOM WE DEAL DO SO BY TELEPHONE OR EMAIL TO AVOID PERSON TO PERSON CONTACT.  IF YOU SUSPECT YOU HAVE BEEN EXPOSED TO THIS VIRUS AND WE HAVE HAD PERSON TO PERSON CONTACT IN THE PRIOR 14 DAYS, PLEASE LET US KNOW THAT.

WE DISINFECT, THROUGHOUT THE DAY, ALL AREAS IN OUR OFFICE THAT MAY BE TOUCHED BY PEOPLE.  THE NEW ENGLAND JOURNAL OF MEDICINE PUBLISHED AN ARTICLE SAYING THAT SOME SURFACES MAY HOLD THE CORONAVIRUS VIRUS FOR UP TO 72 HOURS and UNVERIFIED SOURCES REPORT IT CAN BE LONGER.   OUR BUILDING ALSO HAS ESTABLISHED PROCEDURES DESIGNED TO PROTECT PERSONS COMING INTO THE BUILDING.   ALL COURTS IN WHICH WE REGULARLY PRACTICE HAVE ESTABLISHED PROCEDURES THAT RESCHEDULE OR POSTPONE HEARINGS, GENERALLY, UNTIL AFTER MID-APRIL OR MID-MAY AND LEGAL TIMELINES HAVE BEEN ADJUSTED. 

we concluded that we are exempt from the mandates announced for virgina on March 23, 2020, provided we continue the sanitation procedures outlined above and do not have more than 10 people CONGREGATED AT the same time.  however, we prefer contacts by phone or email.  if you must meet in person, please call first so we can determine if some or all of the matters can be handled by phone or email.
​

Location


3554 Chain Bridge Road, Suite 205
Fairfax, VA 22030

Contact


Telephone : (703) 273-5303
Picture
Copyright (c) 2024 | mcgeehanlaw.com | All rights reserved. | Powered by MMESinc
​Material presented on the McGeehan Pascale, PLC website is intended for information purposes only. It is not intended as professional advice and should not be construed as such.   Disclaimer