😵Federal Court Ruling PAUSED the BOI Filing Requirement

FinCEN's BOI Filing Requirement - PAUSED:

Federal Court Issued a Nationwide Preliminary Injunction aka...

For now (as of December 3, 2024), you are NOT required to file your BOI Report (if you haven't already).

A Federal Court (for the Eastern District of Texas) made the decision (the injunction) based on the likelihood that the law requiring businesses to file the BOI Report could be found unconstitutional and ruled against officially based on the merit of the case.

Here's the running theory...

When President Trump was previously in office, he was against the requirement to file BOI Reports (among other parts of the Corporate Transparency Act) because it caused an undue burden on small businesses.

While President Biden was in office, he signed off on allowing the Corporate Transparency Act which included requiring businesses to file the BOI Report.

Since President Trump will be in office in one month, it is likely he hasn't changed his mind about not liking the Corporate Transparency Act and will again take steps to stop it which could prevent a future requirement to file BOI Reports.

*** FINAL NOTE:

If you procrastinated about filing the BOI Report, for now, it looks like you're getting your way...lol.😆

Access Copy of the Court Filing

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As always, I hope this was helpful, and I TRULY APPRECIATE YOU! 😍

Stay tuned for more…

To your success!

- Loma