Category: Federal Regulations
Impact of Key Provisions of Congress’ Bill that Ended the Government Shutdown for Vulnerable Populations
November 21, 2025 | Cathryn Reher
Our Estate Planning Department works with persons with disabilities of all ages who are accessing government benefits to help pay for long-term services and supports. The government shutdown was very scary for those dependent on government benefits. Thankfully, the government shutdown has ended due to Congress passing a law signed November 12, 2025. Some of the provisions in this law will impact our most vulnerable populations. A few of the more important changes are discussed below. Medicare and Medicaid Payments Medicare and Medicaid usually keep running even during a shutdown. But a very long shutdown could have stopped payments to doctors or kept states from getting the money they need. This would have made it hard for people to get care. The reopening of the government avoids this. Health Insurance Costs May Go Up A special kind of discount called an enhanced premium tax credit that helped people pay for health insurance will end on December 31, 2025. Many people who buy insurance through the Affordable Care Act Marketplace may have to pay a lot more—especially people with middle incomes. Families with tight budgets may want to wait until closer to the deadline so they can compare plans and pick the best one. Congress could still bring back these discounts, but doing so now would be confusing because open…
Read MoreCorporate Transparency Act – LIMITED Enforcement?
March 14, 2025 | Barna, Guzy & Steffen, Ltd.
If you have been following the “life” of the Corporate Transparency Act (CTA), an anti-money laundering law passed by Congress under the first Trump administration, you’ll have noticed the court challenges and on again, off again status. Those court challenges are likely moot at this point, as the Treasury Department announced on Sunday, March 2 that it will not enforce penalties or fines related to the CTA against US Citizens or domestic reporting companies. The CTA is a federal law that went into effect on January 1, 2024. The initial reporting deadline was December 31, 2024, with approximately 6.5 million filings made by that date. Estimates of the number of companies that should be filing exceed 30 million. Large companies and those in already regulated industries are exempt from filing. The actual filing is fairly simple, and the information is not public. Reporting has not been viewed as burdensome, although some companies have objected to being required to disclose ownership. At this time, FinCEN is still accepting filings, but we anticipate that few domestic companies will now elect to make the required filings. However, if your company has any foreign owners or is not a domestic (US) created entity, penalties and fines will still apply if the filing is not made. Further action…
Read MoreCorporate Transparency Act Beneficial Ownership Reporting: Compliance is Compulsory
November 25, 2024 | Carole Clark Isakson
Update December 19th, 2024 On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc., et al. v. Garland, enjoining the federal government from enforcing the Corporate Transparency Act (CTA) and its reporting deadlines. On December 13, 2024, the Department of Justice (DOJ) filed an Emergency Motion for Stay Pending Appeal in the Fifth Circuit requesting an expedited briefing schedule and a ruling “as soon as possible, but in any event no later than December 27, 2024, to ensure that regulated entities can be made aware of their obligation to comply before January 1, 2025.” Reporting companies should continue monitoring developments in the coming days in case the January 1, 2025 deadline for filing is reinstated. Ready. Congress passed the Corporate Transparency Act (CTA) in 2020 as part of its initiative to crack down on illicit activities, such as money laundering, commonly associated with shell companies. Under the CTA, many entities formed or registered to do business in the United States will be required to report various information concerning their beneficial owners and decision-makers. The idea behind the law is to unmask the natural persons behind a given entity. The Financial Crimes Enforcement Network (FinCEN), under the direction of the United…
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