We have yet another wild development with the Corporate Transparency Act: Filings are now voluntary and not subject to fines for failure to comply.
On December 26, 2024, the full panel of judges of the Fifth Circuit Court of Appeals issued an order vacating the stay of a preliminary injunction halting reporting compliance under
Late afternoon on December 23, 2024, the Fifth Circuit Court of Appeals lifted the District Court’s nationwide preliminary injunction against enforcement of the Corporate Transparency Act (CTA) in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., No. 4:24-cv-00478 (E.D. Tex.).
As a result, the following CTA deadlines are once
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a NATIONWIDE preliminary NATIONWIDE injunction against the Corporate Transparency Act (Act). See Texas Top Cop Shop, Inc., et al. v. Garland, et al. In the underlying case, the Plaintiff argued that Congress essentially “overreached” its authority over the States in compelling them to adopt the requirements
A substantial change is on its way for Illinois Condominium Associations beginning January 1, 2025. This is a new transformative approach to accessible parking for residents with disabilities.
Here is what the new rule means and why it matters: Beginning January 1, 2025, the Illinois Condominium Property Act (ICPA) will have new guidelines requiring accessible
Tressler attorneys Kathryn A. Formeller, Simone E. Haugen and Adriana M. Bosco successfully represented board members of a condominium association. Two years after closing, a unit owner of the condominium association filed suit against the board members for breach of fiduciary duty (on numerous issues including underfunded reserves) and violation of Section 22.1 of
We are pleased to invite you to our upcoming virtual Tressler Talk:Tressler Talks: Advanced Financials in HOA LawOctober 9, 20242:00pm-3:00pm CTWebinarJoin Tressler’s experienced attorneys for this complimentary Illinois HOA board and property management training. This popular webinar provides an advanced, in-depth analysis of community association finances and overall financial stability. Attendees will learn
Tressler is excited to welcome Sayra V. Contreras as an associate in our HOA Practice Group. Sayra concentrates her practice in litigation with a focus on representing condominium associations and common interest community associations in areas such as rule enforcement, interpretation of governing documents, review and negotiation of contracts and collection of assessments.
“Joining Tressler
The Corporate Transparency Act (“CTA”) is here to stay, and for now, condominiums, townhomes, homeowners and community associations must file the required Beneficial Ownership Information Report (BOIR) by December 31, 2024. Failure to comply will result in penalties imposed by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The primary goal of
While independent parties continue to challenge the application of the CTA to condominium and homeowner associations, it still appears to apply. We recommend that associations hold off on its reporting requirements as we continue to obtain further clarity on the CTA as it seems to be an ever-evolving statute. To that, new guidelines for compliance were issued
Tressler attorney Katerina Tsoukalas-Heitkemper will be presenting with Sheila Malchiodi of Associa Chicagoland at the Illinois Chapter Community Associations Institute’s (CAI-IL) April 2024 Dedicated Community Association Leader (DCAL) Board Member Education program on Tuesday, April 30, 2024, in Schaumburg, IL. Their course is titled “Fair Practices in Your Community.” We look forward to a great program!
