Posts by Matt Zuiderhof

Interim Final Rule on the Corporate Transparency Act?   On March 21st, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) published an interim final rule (the “March 21 Rule”) that: Narrows the beneficial ownership information (“BOI”) reporting requirements of the Corporate Transparency Act (“CTA”); and Extends the CTA’s BOI reporting deadline by 30 days.…

This Week in Congress Congress is in recess this week and we’ll return on Monday, March 24th. When the Senate returns next week, the chamber will consider nomination votes for John Phelan to be secretary of the Navy, Michael Kratsios to be director of the Office of Science and Technology Policy, Jay Bhattacharya to be…

ICE’s Budget – $2Billion Short? The agency charged with carrying out President Trump’s mass deportation promises has warned Congress it is short $2 billion for this fiscal year. Congress will send Immigration and Customs Enforcement (ICE) an extra $500 million in the stop-gap spending bill that passed last week, but that will not come close…

Section 199A Update Section 199A has ensured that small businesses received similar benefits to large, multinational companies that saw the corporate tax rate reduced, permanently, in 2017. This deduction has strengthened American businesses, created jobs, and boosted local economies. Letting Section 199A expire will raise taxes on small businesses and this puts those businesses at…

Ernst Provides Small Businesses Opportunity to Compete in Federal Marketplace Releases new survey to identify hurdles for small businesses.   WASHINGTON – Today, U.S. Senate Committee on Small Business and Entrepreneurship Chair Joni Ernst (R-Iowa) is building on her work to boost small business involvement and provide greater opportunity in the federal marketplace by identifying…

This Week in Congress Averting a government shutdown on Friday night was high on Congress’s agenda this week. The House voted on a Congressional Review Act resolution (H.J. Res. 25) to overturn an IRS crypto reporting rule and a bill (H.R. 1156) to extend the statute of limitations for fraud under certain pandemic-era unemployment programs. …

Federal Government Funding Expires This Friday President Trump announced his preference for a “clean” continuing resolution (“CR”) through the end of FY 2025. Speaker Johnson (R-LA) released the text on Saturday. The measure would fund the government through September 30 (the end of its fiscal year), increase defense and border security spending by $6 billion,…

Budget Reconciliation Update Senate leaders announced they will start working on budget resolution differences with the House in late March. House Ways and Means Committee Republicans plan two long drafting sessions this week for reconciliation language details.  President Trump, in his Congress address last week, emphasized tax priorities: permanent income tax cuts, no tax on…

Congress Considering Recission Some members of Congress are concerned about the political implications and Separation of Powers issues related to the administration’s decision to withhold certain appropriated funds. Senate Budget Chairman Graham (R-SC) has suggested addressing these concerns by having Congress vote to legally authorize the spending cuts through a process called recission. The Impoundment…

New House Party Ratio Sadly, Rep. Sylvester Turner (D-TX) died last week. Party ratios in the House are now 218 Republicans to 214 Democrats. The Texas governor will call a special election to fill the seat, which is expected to remain Democratic Return to the ASAtoday page to read more articles