Treasury small business ownership rule on hold as court eyes constitutionality

Treasury small business ownership rule on hold as court eyes constitutionality


Key Points
  • Small businesses had been required to report “beneficial ownership information” to the Treasury Department by Jan. 13, 2025, or risk financial penalties.
  • The 5th U.S. Circuit Court of Appeals issued an order late on Dec. 26 that halted enforcement. It comes just days after a previous delay, from Jan. 1.
  • Businesses aren’t required to file a BOI report and won’t face liability while that order is in effect.
  • It will likely be in force until at least March, one legal expert said.



Source

Jamie Dimon says Trump’s billion debanking lawsuit ‘has no merit’ but he’s sympathetic to concerns
Finance

Jamie Dimon says Trump’s $5 billion debanking lawsuit ‘has no merit’ but he’s sympathetic to concerns

Key Points JPMorgan Chase CEO Jamie Dimon said President Donald Trump’s lawsuit seeking $5 billion in damages for shuttering accounts was without merit. But he said he sympathized with the president’s anger over the episode. In recent court filings, JPMorgan acknowledged it closed dozens of accounts associated with Trump in the weeks after the Jan. […]

Read More
Retail investors had two favorite trades during Monday’s market turmoil
Finance

Retail investors had two favorite trades during Monday’s market turmoil

Mom-and-Pop investors rushed into a pair of trades on Monday following the U.S.-Israeli strikes on Iran. Retail investors sent millions of dollars on a net basis into the State Street Energy Select Sector SPDR ETF (XLE) and Palantir in the first hour of Monday’s session, according to VandaTrack. But the broader market didn’t see the […]

Read More
Berkshire Hathaway shares drop more than 4% after poor fourth-quarter results, no bold moves by new CEO Abel
Finance

Berkshire Hathaway shares drop more than 4% after poor fourth-quarter results, no bold moves by new CEO Abel

Key Points Shares of the Omaha-based conglomerate fell after Berkshire reported operating earnings of $10.2 billion in the fourth quarter – a nearly 30% decline from the year-ago period. Berkshire ended 2025 with a cash pile of more than $370 billion. Some on Wall Street had hoped for more aggressive signals on capital deployment. Source

Read More
Powered by WordPress | WP Magazine by WP Mag Plus