The U.S. District Court in Texas granted a preliminary nationwide injunction against the Corporate Transparency Act, blocking the U.S. Treasury from enforcing the act’s beneficial ownership information reporting requirements.
Many boards remain unaware of the CTA and the legal requirement to file, and the filing deadline is approaching quickly. As managers, it’s critical to inform boards about this requirement and empower them to decide on the best approach.
Understanding the basis of accounting used to prepare financial reports is a vital first step to comprehending your association’s financial position and results from operations.
Motion hearing in pending lawsuit aims to halt enforcement of the act for community associations.
What is the potential impact of the Corporate Transparency Act on community association boards? CAI has resources to help break it down.
CAI filed a lawsuit against the U.S. Department of Treasury challenging the application of the Corporate Transparency Act beneficial ownership interest filing requirements on community associations.
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