Treasury Aims to Lift Barrier to Corporate Transparency Act

The government appealed an order blocking the enforcement of the Corporate Transparency Act, aiming to remove a final barrier to its enforcement.

The Department of Justice filed notice of appeal of a preliminary injunction put in place Jan. 7 by a judge in the US District Court for the Eastern District of Texas, who said the CTA was likely unconstitutional because it expanded federal power into commerce regulation typically handled by the states.

The order stayed the deadline FiNCEN set for 32 million American businesses to report their beneficial ownership information to Treasury’s Financial Crimes Enforcement Network, or FinCEN. FinCEN ...