The BOI Follies - Next Act

SCOTUS Continues the Mess

Well, I never thought I’d say this - I agree with Justice Jackson. Earlier today, with an unsigned order and a dissent by Justice Jackson, the U.S. Supreme Court stayed the injunction that had been put in place by the federal district court in Texas in early December of 2024 concerning the implementation of the BOI reporting rules? What does all that gibberish mean? It means that the government can go ahead, at least for the time being, and enforce the BOI reporting rules while the Fifth Circuit makes up its mind on the merits of the case.

Justice Jackson dissented, noting that the Fifth Circuit has expedited its consideration of the Government’s appeal and because the Government had already deferred enforcement for FOUR YEARS despite the harm it now claims any delay would cause. Precisely!!!

I also agree with the concurrence of Justice Gorsuch who wanted the Court to take the case now and resolve the merits…NOW.

FinCEN will have to determine what it wants to do in terms of enforcement. Which may end up being nothing. There’s a new Administration in town - with the same President that vetoed this whole mess the first time around. And, there’ll be a new Treasury Secretary and IRS Commissioner. FinCEN is part of the Treasury. So keep an eye on what FinCEN might say. And keep an eye on the White House. Remember, in December, the prior Congress failed to push the filing deadline out. Will the new Congress get something done. It’s possible.

It truly is a collective clown show of the legislative and judicial branches of government.