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Further to the saga in post 821892, the Fifth Circuit merits panel just VACATED the stay, in order to preserve the Constitutional questions.
ORDER:
On December 3, 2024, the district court entered an order enjoining enforcement of the Corporate Transparency Act and its corresponding Reporting Rule. Texas Top Cop Shop, Inc. v. Garland, No. 4:24-CV-478, 2024 WL 5049220 (E.D. Tex. Dec. 5, 2024). The Government requested a stay of the preliminary injunction, which the district court denied. Texas Top Cop Shop, Inc. v. Garland, No. 4:24-CV-478, 2024 WL 5145951 (E.D. Tex. Dec. 17, 2024).
The Government appealed, and on December 23, 2024, a motions panel of this court granted the government’s emergency motion for a stay pending appeal. Texas Top Cop Shop, Inc. v. Garland, No. 24-40792, 2024 WL 5203138 (5th Cir. Dec. 23, 2024) The order also expedited the appeal to the next available oral argument panel.
The merits panel now has the appeal, which remains expedited, and a briefing schedule will issue forthwith. However, in order to preserve the constitutional status quo while the merits panel considers the parties’ weighty substantive arguments, that part of the motions-panel order granting the Government’s motion to stay the district court’s preliminary injunction enjoining enforcement of the CTA and the Reporting Rule is VACATED.
I've never seen an appeal with this degree of whiplash... insane.
Well, an annoying update, but FinCEN has asked for a stay of the CTA injunction from the Supreme Court.
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This is incredible. By now most entities have probably complied anyway.
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Last I heard (which was last week) FinCEN's belief was only 10% compliance, and about 1M new filings per day. That's why they gave the extra 13 days.
Myself, I'm waiting to the last second on all companies, in hopes that some court realizes that this is all bullshit... and I have everything ready to go because I know that the courts let me down more than I'd like.
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courts are now difficult to believe, what is right can be wrong, what is wrong can even be justified
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FinCEN is the agency trying to enforce this rule?
After Jan 20, Trump or Pam Bondi can tell FinCen do not enforce?
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ahh ferk i already did this 😮‍💨
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Wait, sorry... what is this about again?
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This is the KYC all the companies law. FinCEN is attempting to force all companies to disclose their ownership to them, a criminal investigation organization, or face serious fines and jail. And you will only have 30 days to update them if anything changes.
Aside from killing privacy (some states don’t require this information to be shared with them), it creates an ongoing paperwork burden that is incredibly oppressive for smaller businesses.
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My one person LLC that has zero revenue has to submit this form to the feds. Information is already available on state website
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