Author Archives for Shamira Narayana

In a significant legal development, a Texas federal court issued a nationwide preliminary injunction on December 3, 2024, halting the enforcement of the Corporate Transparency Act (CTA). The ruling temporarily suspends the CTA’s reporting requirements, including the critical January 1, 2025, compliance deadline. The Department of Justice may appeal this decision to the 5th Circuit Court of Appeals, which could lead to further legal proceedings and potential changes in the status of the injunction. In this blog, we break down the reasons behind the court’s decision, what it means for the Corporate Transparency Act, and what steps businesses should take to stay prepared.

Legal Update: Nationwide Injunction Halts Corporate Transparency Act Compliance

by | December 5, 2024

In a significant legal development, a Texas federal court issued a nationwide preliminary injunction on December 3, 2024, halting the enforcement of the Corporate Transparency Act (CTA). The ruling temporarily suspends the CTA’s reporting requirements, including the critical January 1, 2025, compliance deadline. The Department of Justice may appeal this decision to the 5th Circuit... View Article

Federal Estate Tax Exemption Update: Planning for the 2025 Reduction

Federal Estate Tax Exemption: Planning for 2025

by | November 21, 2024

As we approach the end of 2024, the impending reduction of the federal estate and gift tax exemption continues to be a key consideration for estate planning. The current exemption levels, set by the Tax Cuts & Jobs Act of 2017, remain at historically high levels of $13.61 million per individual and $27.22 million for... View Article