Resources

Client Alerts, News Articles, Blog Posts, & Multimedia

Everything you need to know about BMD and the industry.

Corporate Transparency Act Update 3/14/24

Client Alert
March 14, 2024

For a more detailed overview on the CTA, click here.  A webinar providing further explanation can be viewed here, which was presented December 7, 2023.

On March 1, 2024, a federal district court in the Northern District of Alabama concluded that the Corporate Transparency Act (“CTA”) exceeded Congressional powers and enjoined the Department of the Treasury from enforcing the CTA against the plaintiffs. National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.). On March 11, 2024, the U.S. Department of Justice appealed the district court’s decision to the Eleventh Circuit Court of Appeals.

In a March 11, 2024 statement, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) specified that the district court’s decision enjoined enforcement of the CTA with respect to the plaintiffs of the litigation detailed above. However, aside from these named plaintiffs, FinCEN specifically provides that “reporting companies are still required to comply with the law and file beneficial ownership reports.” Thus, associated fines and penalties are still enforceable against reporting companies while this litigation continues to unfold.

The CTA, which went into effect January 1, 2024, requires certain corporate entities to report identifying information on (i) the business itself; (ii) the beneficial owners of the business; and (iii) in some cases, the professional advisor(s) that helped form the entity. Failure to file as required under the CTA carries steep civil and criminal penalties, including a fine up to $10,000, imprisonment for up to two years, or both, for any person who willfully (i) provides or attempts to provide false/fraudulent information or (ii) fails to report and/or update a report previously made.

For questions regarding the CTA and how your business should complete mandatory reporting, please do not hesitate to contact BMD Member Blake Gerney at brgerney@bmdllc.com or BMD Attorney Jacob Davis at jrdavis@bmdllc.com.

Corporate Transparency ActBusiness & Corporate LawBlake R. GerneyJacob R. Davis
Client Alert

Supreme Court Clears Path for TPS Terminations: What Employers Need to Know

June 25, 2026The U.S. Supreme Court's June 25, 2026 decision in Mullin v. Doe and Trump v. Miot removed legal obstacles that had delayed the termination of Temporary Protected Status (TPS) for Haiti and Syria. The ruling also reinforces the administration's authority to terminate other TPS designations currently under review. Employers should immediately identify workers whose employment authorization is tied to affected TPS programs, review Form I-9 records, and prepare for forthcoming USCIS guidance before taking any employment action.Client Alert

The Risks of Outsourcing Medical Billing and the Importance of State-Law Compliance

June 24, 2026Offshoring medical billing and other administrative functions can reduce costs, but it also raises significant compliance, operational, and contractual risks. Although HIPAA does not explicitly prohibit protected health information from being accessed or stored outside the United States, healthcare providers and their vendors remain responsible for safeguarding patient information and complying with state-specific restrictions that may limit or prohibit offshore subcontracting.Client Alert

Risks of Using AI-Generated, Implied Celebrity Endorsements in Advertising

June 3, 2026Businesses using AI-generated celebrity images, videos, or voice simulations in advertising may face significant legal risks if the content falsely implies an endorsement, affiliation, or sponsorship. This article discusses potential exposure under false advertising, right of publicity, consumer protection, and professional conduct laws, and explains why disclaimers may not be enough to avoid liability.Client Alert

CMS Requires Providers to Use an Updated Advance Beneficiary Notice (ABN) Form by May 12, 2026

May 22, 2026CMS has released an updated Advance Beneficiary Notice of Noncoverage (ABN), Form CMS-R-131, that all providers and suppliers must begin using by May 12, 2026. The revised form includes clearer language and formatting updates intended to improve patient understanding and compliance.Client Alert

CMS and Ohio Ramp Up Fraud Enforcement in Home Health and Hospice

May 15, 2026CMS and Ohio have launched sweeping new fraud prevention initiatives targeting home health and hospice providers, signaling a period of heightened scrutiny for enrollment, billing, documentation, and EVV compliance. While aimed at combating fraud, these measures also create significant operational and due process risks for compliant agencies, making proactive compliance programs, auditing, and governance more important than ever.
Older posts
Newer posts