Aviation law is a highly specialized field of law that encompasses most facets of air travel, as well as the operation and regulation of business issues relating to air travel. Practicing aviation law requires a comprehensive knowledge of FAA regulations, specific laws regarding flight, and an in-depth understanding of the industry. It also pertains to the challenges and representation of aircraft owners with respect to personal property tax assessments by the state and local governments.
Shareholder C. Bruce Willis, II chairs the Aviation Law practice of the Firm. Mr. Willis formerly acted as general counsel for a privately held company that owned, leased and chartered commercial aircraft.
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Corporate Transparency Act Reporting Requirements Back in Effect with Extended Reporting
Deadline; FinCEN Announces Intention to Revise Reporting Rule
Following the February 18, 2025, decision by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336, the Financial Crimes Enforcement Network (FinCEN) has announced that beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act are back in effect, with a new deadline of March 21, 2025 for most companies.
FinCEN has also announced that it will assess its options to further modify deadlines, while prioritizing reporting for those entities that pose the most significant national security risks. FinCEN intends to initiate a process this year to revise the BOI reporting rule to reduce burden for lower-risk entities, including many U.S. small businesses.
Notice: https://www.fincen.gov/sites/
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