Pentecost, Glenn & Tilly, PLLC

03/03/2025

The President issued a statement on social media that Treasury will not be enforcing the BOI reporting requirement against US companies and that new regs will be forthcoming. Good news for small business owners. We will continue to monitor the new regulations and look for congressional action later this year.

01/29/2025

Update on FINCEN and BOI reporting. The Supreme Court recently dissolved the nationwide injunction against enforcement of the act issued in one federal case in Texas but another nationwide injunction is in place from a separate Texas case. So as of today, BOI reporting remains voluntary.

We will continue to monitor developments with this law and post updates to our page.

12/29/2024

The BOI reporting case continues to twist and turn. The 5th Circuit removed the stay which it had earlier issued, which means that now BOI reporting is OFF again for the time being.

Companies that have not yet done their reporting should continue to monitor this case given the severe civil fines and potential criminal liability involved in this federal law.

12/25/2024

The 5th Circuit has stayed the injunction against the federal law which required all small businesses that are corporations or LLCs to report ownership info to the federal government. That means the reporting requirement is back in force. The deadline for reporting is now Jan 13th, 2025.

12/20/2024

We are so thankful for Vanessa, who has worked for the firm for 18 years as of today!

12/05/2024

Important news for our Business and estate planning clients. A federal court has issued an injunction against enforcement of the Corporate Transparency Act which means that, at least for right now, limited liability companies and corporations are not required to file beneficial ownership information (BOI) reports to the federal government by the January 1, 2025 deadline.

This is a preliminary injunction and does not end this case. If the injunction is later removed by the Court or if the government successfully appeals the BOI reporting requirement could be back in place. The CTA carries significant civil and criminal penalties for failure to file, so it is important that owners of covered entities monitor the developments in this pending litigation.

If you have any questions concerning where this leaves your business or estate planning entity, feel free to give us a call.

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. Texas Top Cop Shop, Inc., et al. v. Garland, et al., Case No. 4:24-cv-478 (E.D.

08/19/2024

Congratulations to Haynes Russell for being recognized in the 2025 edition of Best Lawyers: Ones to Watch!

Pentecost, Glenn & Tilly, PLLC is pleased to congratulate Haynes T. Russell for being recognized in the 2025 edition of Best Lawyers: Ones to Watch® in America for his excellence in Litigation …

04/26/2024

Congratulations to the North Side Indians winners of this year's Rushing Trophy. With today's win over Madison they went 5-1 against local public baseball teams. Thanks to Coach Andy Rushing for presenting the Trophy and Jeff Sisk and TCAT for co-sponsoring the Trophy.