|
|
The US Court of Appeals has lifted the injunction that previously blocked enforcement of and compliance with the Corporate Transparency Act. Accordingly, companies are now required to file a Beneficial Ownership Information Report with FinCEN, unless they are otherwise exempt.
If you are required to file for any existing companies, you may file the beneficial ownership information (“BOI”) report with FinCEN directly on the FinCEN website, https://fincen.gov/boi, or alternatively, we will do our best to assist you.
Currently the Department of the Treasury has extended the reporting deadlines as follows:
If you have already filed, please note that you do not need to re-file. You will only be required to file an amendment if there have been changes to the information contained in your report.
Please note that any reporting companies created on or after January 1, 2025 will only have 30 days to file their initial BOI reports with FinCEN after receiving actual or public notice that their creation or registration is effective.
If you have questions about the ruling or would like us to assist with your BOI submission, please contact us at CTA@coblentzlaw.com.
Coblentz Patch Duffy & Bass LLP partner Harry O’Brien was honored as Member of the Year by the Golden Gate – San Francisco chapter of the Lambda Alpha International (LAI) Land Economics Society. LAI awards honor nominees who have advanced the field of land economics through their achievements and service to their profession, community, and chapter.
Harry O’Brien has played a pivotal role in shaping the Bay Area’s urban landscape. He has represented both the San Francisco Giants in the development of Oracle Park and the San Francisco 49ers in the development of Levi’s® stadium in Santa Clara, California. He has also been recognized for his work with the Tejon Ranch Conservation and Land Use Agreement, one of the most significant land use and conservation agreements in California history. Known as a top Land Use & Zoning lawyer in Chambers USA, Harry’s clients describe him as “outstanding in providing good business counsel” and “a remarkably smart and experienced real estate attorney.”
Lambda Alpha International’s mission is to encourage and support the study of land economics, expand the world’s knowledge and understanding of the principles of land, and advance a close working bond and mutual understanding among those engaged in all disciplines and activities related to land economics.
Join Coblentz partner Skye Langs on Tuesday, January 21, 2025 as she co-presents the Bar Association of San Francisco program “Survey of Significant 2024 Real Estate Cases.” This program will cover significant 2024 real estate cases affecting real property owners, buyers, sellers, agents, brokers, lenders, borrowers, consumers, developers, contractors and others.
For more details and to register, please click here.
On Wednesday, January 15, 2025, Coblentz partner Jennifer Scharre will present “Planners Plan and Litigators Laugh: What a Court Will Do With Your Well Intentioned Plan” for the San Francisco Estate Planning Council.
Join Coblentz partner Frank Busch on Tuesday, January 14, 2025 as he co-presents the Bar Association of San Francisco MCLE program “Probate and Trust Litigation Year in Review – 2025.” This online program will cover new cases of interest and new legislation affecting trusts and estates law and practice.
For more details and to register, please click here.
Join Coblentz partner Jennifer Scharre on Wednesday, January 8, 2025 for the Bar Association of San Francisco MCLE program “Planners Plan and Litigators Laugh: How Will a Court Interpret Your Well Intended Plan.” Topics include revocation and amendment procedures; analyzing Haggerty by applying it to split cases that preceded it; trustee’s powers to spend trust assets; trustee power or duty to defend trust; and power allocation in directed trusts.
For more details and to register, please click here.
Join Coblentz partner Jennifer Scharre on Wednesday, December 18, 2024 as she co-presents the Stafford webinar “Charitable Income Tax Deductions and Planning for 2025.” She will discuss income tax charitable deduction rules under current tax law, substantiation and reporting requirements, donor obligations, contemporaneous written acknowledgments and disclosures, and other key items that taxpayers must consider.
For more details and to register, please click here.
On Tuesday, December 3, 2024, a Texas federal judge granted a preliminary injunction halting the continuing implementation of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements.
The court stated that (1) companies are not required to comply with the CTA’s January 1, 2025, BOI reporting deadline, and (2) the CTA and its implementing rules may not be enforced.
The court’s order is a preliminary injunction and not a final order. We expect the government may appeal the ruling and request a stay of the order. The court’s order temporarily pauses enforcement of the CTA on a nationwide basis, but enforcement may resume if the court’s order is overturned on appeal or the United States ultimately prevails on the merits.
Because it is uncertain at this time whether the order will be upheld, it would be prudent for reporting companies that have not filed to date to continue preparing to file in anticipation of a successful challenge by the government. In the event of a successful challenge, filing agents may be overwhelmed with filing requests and clients should be prepared to submit the BOI report to FinCEN directly.
If you have questions about the ruling or would like us to assist with your BOI submission, please contact us at CTA@coblentzlaw.com.
Coblentz Patch Duffy & Bass LLP partner Fred Alvarez was honored as the recipient of the 2024 Cruz Reynoso Lifetime Achievement Award by the San Francisco La Raza Lawyers Association. The annual award is named for Justice Cruz Reynoso, the first Latino state Supreme Court justice in California history.
One of the preeminent employment lawyers in the United States, Fred combines a distinct blend of employment law experience, public service, and legal profession leadership. Fred is a former chair of the ABA Commission on Racial and Ethnic Diversity in the Profession, has served on the ABA Commission on Women in the Profession, and is a former president of the Bar Association of San Francisco. Fred serves on the board of directors of Equal Rights Advocates and the Latino Community Foundation. He is also a member and former chair of the board of governors of Public Advocates Inc.
San Francisco La Raza Lawyers Association’s mission is to serve the public interest by cultivating the science of jurisprudence, promoting reform in the law, facilitating the administration of justice, advancing the standing of the legal profession, and preserving the high standards of professionalism among Latino attorneys.