In an order filed December 26, 2024, the Fifth Circuit Court of Appeals has vacated their own stay of the District Court’s preliminary injunction of the enforcement of the January 1, 2025 deadline for reporting compliance under the Corporate Transparency Act in Texas Top Cop Shop v. Garland. Previously, FinCEN had extended the deadline from January 1, 2025.
The Fifth Circuit justified this flip flop on the basis that:
“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. “
We will keep you posted as matters develop.
Read the full article here