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FinCEN Update: No Fines or Penalties for Failure to File or Update BOI Report
In a recent release, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) made a surprising announcement to refrain from imposing fines and other penalties on entities that fail to file Beneficial Owner Information reports (BOI reports) or fail to update previously-filed BOI reports. In other words, FinCEN will not… Continue
DECEMBER 27, 2024 CTA UPDATE: CTA REPORTING RULE STATUS AGAIN CHANGES
DECEMBER 27, 2024 CTA UPDATE: COURT VACATES ITS OWN ORDER GRANTING STAY OF PRELIMINARY INJUNCTION; CTA REPORTING RULE STATUS AGAIN CHANGES The United States Court of Appeals for the Fifth Circuit (Court) has vacated its own order of December 23, 2024. In doing so, the Court noted in its most… Continue
UPDATE: CTA is Enforceable; Beneficial Ownership Information Reports with FinCEN Continue
With the December 23, 2024 ruling by the United States Court of Appeals for the Fifth Circuit, reporting companies created or registered prior to January 1, 2024 or those created or registered on or after September 4, 2024 that had a filing deadline between December 3, 2024 and December 23,… Continue
Texas District Court Issues Stop of Corporate Transparency Act Compliance for all Businesses
Due to a court order effective nationwide and issued on December 3, 2024, currently there is no legal obligation to file Beneficial Ownership Information Reports to comply with the Corporate Transparency Act by year-end 2024. GKH’s Corporate Practice Group has been monitoring several cases challenging the constitutionality of the Corporate… Continue
Salary Threshold Increase for Exempt Employees Blocked by Federal Court
On November 15, 2024, a federal judge in the Eastern District of Texas held that the Department of Labor’s (“DOL”) increase to the minimum salary threshold for exemption from overtime payment exceeded the DOL’s statutory authority. The DOL’s rule had increased the salary threshold from $684/week to $884/week in July… Continue
PA DOS Annual Report and BOI Report Filing Alert
Business and nonprofit entities, foreign associations registered to do business in the Commonwealth and domestic business trusts must file an annual report beginning in the calendar year 2025. The annual report is filed with Pennsylvania Department of State (“PA DOS”) and may be submitted electronically. The annual report requires the… Continue
FTC’s Noncompete Ban Blocked: What Employers Need to Know
In a recent twist, the Federal Trade Commission’s (FTC) ban on noncompete clauses has been temporarily blocked by a federal court, creating immediate implications for employers. The Court’s reasoning aligned with the Supreme Court’s prior rulings limiting administrative agencies’ ability to implement laws. Judge Ada Brown stated in her ruling… Continue
GKH Provides Pro Bono Legal Representation to Environmental Groups
Gibbel Kraybill & Hess, LLP (GKH) is committed to protecting our environment and being good stewards of our earth. To that end, GKH is always looking for ways that we can make a difference. For example, from 2018 to 2021, GKH partners Dwight Yoder and Sheila O’Rourke, along with paralegal… Continue
Creating Constructive Change at Christian Schools
By Peter J. Kraybill Attorney with Gibbel Kraybill & Hess LLP When a scandal rocks a Christian school, a common instinct is to react with surprise and dismay, and then to dismiss the incident as an outlier. The reality is that many Christian schools face the same threats as other… Continue
Employer Alert: FTC Issues Rule Banning Most Non-Competes
The Federal Trade Commission (“FTC”) has issued a final rule banning most non-competes nationwide. The rule prohibits employers from entering into new non-compete agreements with employees and other workers and provides that existing non-competes are not enforceable. Moreover, employers with existing non-compete agreements will be required to notify their employees… Continue