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U.S. FinCEN Confirms Impact of District Court Ruling on Corporate Tax Transparency Act is Limited to the Plaintiffs

08 March 2024

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United States

The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has issued a release confirming that the impact of the recent district court ruling on the Corporate Tax Transparency Act is limited to the plaintiffs in the case. --- Notice Regarding National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.) On March 1, 2024, in the case of National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.), a federal district court in the Northern District of Alabama, Northeastern Division, entered a final declaratory judgment, concluding that the Corporate Transparency Act exceeds the Constitution's limits on Congress's power and enjoining...