Breaking Update #1: The BOI Filing Requirement for Business Owners

On Monday, December 23, 2024, the 5th Circuit Court of Appeals has granted the government’s emergency motion to stay the Texas court’s nationwide injunction against the BOI filing requirement.  Here is a link to the actual court decision:

https://www.natptax.com/TaxKnowledgeCenter/FederalTaxInformation/IRSTaxResources/Documents/12232024cta.pdf?utm_source=mkt&utm_medium=email&utm_content=122324BOI&utm_campaign=ship 

In plain English, this means that we are now again required to file the BOI report.  FINCEN has, however, extended the filing deadline from January 1, 2025, to January 13, 2025.  Based on this, we will begin filing these for all clients we previously had on our list but have not yet filed.