As of yesterday, the U.S. District Court for the Eastern District of Texas in the Texas Top Cop Shop v. Garland, issued a nationwide “stop” of the reporting requirements under the CTA. If your business has already reported, then you do not need to do anything further at this time.
The CTA was originally passed into law under the first Trump Administration. Given the transitional nature of the Justice Department at this time, it is unclear whether the Justice Department will appeal this ruling to the Fifth Circuit. Stay tuned for additional developments in our next Business Alert.
Please share this update with your fellow business owners. We advise that you consult with your attorney before making any legal decisions for your company.