Treasury Department suspends enforcement of Corporate Transparency Act

In a March 2 update, the Treasury Department announced that with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information (BOI) reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either.  

Read the full news release. 

The AICPA on March 6 released its own statement in response to the BOI freeze.