By Maggie Edwards

After back-and-forth rulings during December, Corporate Transparency Act (CTA) beneficial ownership information (BOI) reporting requirements are on hold indefinitely.  

The federal court previously paused the BIO filing mandate in early December. The U.S. Court of Appeals for the Fifth Circuit then reinstated the order, and extended the filing deadline, Dec. 23. Just three days later, a court again halted CTA implementation. 

Despite the judicial ping pong, the Dec. 26 ruling is good news for farmers and small-business owners, said Alabama Farmers Federation’s John Allen Nichols. 

“They have ultimately made the right decision by setting the requirement aside — again,” said Nichols, the Federation’s agriculture counsel. “The last-minute changes created confusion for many hard-working Americans during the Christmas season. Despite these issues, the Federation appreciates the court’s most recent ruling and will continue to monitor the situation.”

This court decision, like previous orders, is subject to change.

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