Dec 19, 2024
As reported in the National Law Review: "On December 3, 2024, a Texas-based federal court issued a sweeping order prohibiting the federal government from enforcing the Corporate Transparency Act (CTA) anywhere in the country."
This much-debated law imposed heavy reporting requirements on a wide range of companies, starting in 2025. But a federal court in Texas issued a preliminary injunction blocking it. In the court's words:
Pending before the Court is Plaintiffs’ Motion for Preliminary Injunction (Dkt. #6). Through it, Plaintiffs seek to enjoin the Government from enforcing the Corporate Transparency Act and its Implementing Regulations. Having considered the Motion, the arguments of counsel, and the applicable law, the Court concludes that the Motion should be GRANTED.
Indeed, amidst over 70 dense legal pages, the court referred to the CTA as a "quasi-Orwellian statute."
However, the National Law Review said a government appeal is likely, so the CTA may come back. For now, however, businesses can relax. Still, owners should stay in touch with their financial advisers, in case the CTA comes back in the future.
©2024
Mar 14, 2025
By offering educational assistance programs, companies can support employees' undergraduate or graduate education, help them pay off student loans, or assist them with the cost of books and supplies. Read through to learn more about the IRS's qualified educational assistance program.
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Employees who may have worked for the same employer for 5-10 years or longer are sometimes facetiously labeled "lifers," while others are "job hoppers." But are those labels useful anymore? Read through for some insights into employee tenure.
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Not everyone in your office will qualify for overtime pay, but how do you determine employee classification? Read through to learn more about overtime and who qualifies.
Mar 11, 2025
Workers' comp insurance is essential for most businesses, but as an employer, you may have more options than you realize. Read through for an introduction to the pay-as-you-go model and the advantages of outsourcing it.
Mar 10, 2025
Until the pandemic, no one could have envisioned how profoundly remote employment would affect the workplace. The rise of the hybrid office has led to some thorny tax questions. Read through for some thoughts on how tax rules apply in a remote or hybrid environment.
Feb 14, 2025
As a small-business owner, it's highly likely that you've caught wind of payroll myths, and if you believe them without realizing they are mythical, then these nonfactual ideas might influence your approach to payroll. Read through to realize that it's possible to evade payroll myths instead of falling victim to these lies.
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