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UPDATED Podcast – BPB Knows the Corporate Transparency Act

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Posted on January 18, 2024 by Joel Young

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UPDATED – On March 2, 2025, the Department of Treasury announced CTA will be narrowed to only foreign reporting companies.

UPDATED – On December 3, 2024, a federal court in Texas ruled that the CTA is likely unconstitutional and prohibited its enforcement. This set off a review, injunction and follow-up hearing date in March 2025. Until the courts sort it out, companies are no longer required to report by the original deadlines.

We are watching the topic and will keep you apprised of next steps.

In this episode Associate Director of Tax Services Joel Young shares the background of the Corporate Transparency Act and what business owners will need to report.