FinCEN’s March 2025 Rule Lifts Reporting Burden for Domestic Companies On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced a major change to the Corporate Transparency Act (CTA) reporting rules. U.S. companies and U.S. persons who are beneficial owners of U.S. entities are no longer required to report Beneficial Ownership Information (BOI) to […]
An Update to the Corporate Transparency Act: Beneficial Ownership Information Reporting Requirements Update (March 5, 2025): Since the original publication of this article, the U.S. Treasury and FinCEN have announced a suspension of penalties and enforcement for BOI reporting requirements for domestic entities. Additionally, the Treasury Department is considering revisions to the rule that may […]
Since returning to office, President Trump has taken executive actions to remove DEI initiatives and programs from the workplace. However, sixteen state attorney generals have issued a letter stating that DEI should remain legal. Their message is that well-structured DEI programs are lawful and are crucial in fostering fair, compliant, and productive workplaces. The Attorney […]
Federal workplace safety officials have finally started finalizing plans to eliminate the Biden administration’s old COVID-19 regulation. OSHA plans a broader infectious disease standard, and with the Trump administration signaling a less regulatory focus than the previous regime, this will mean new compliance obligations for healthcare workers across the country. Background on COVID-19 Regulation At […]
Insights by VertiSource HR The U.S. Department of Labor has announced higher penalties for workplace safety violations in 2025, reflecting annual adjustments to OSHA’s maximum civil penalties. These increases, effective January 16, apply to all workplace safety citations, including those tied to open inspections. Here’s what you need to know about these changes and how […]
As of January 1, 2025, employers in California must comply with updated labor and employment law obligations—including a new requirement related to whistleblower rights. The Whistleblower Notice Under California law, employers must display a notice informing employees of their rights and protections under the state’s whistleblower laws. Assembly Bill 2299, signed into law last summer, […]
The 5th Circuit Court of Appeals has stopped enforcement of the Corporate Transparency Act again, which means businesses do not need to meet compliance by the original January 13, 2025 deadline. The Timeline of Development 2021: Congress passed the Corporate Transparency Act and set a deadline by January 1, 2025. December 3, 2024: A Texas […]
Overview A recent ruling by a federal appeals court has reactivated employer reporting requirements under the Corporate Transparency Act (CTA), with a new compliance deadline set for January 13. After a lower court temporarily blocked enforcement, the 5th Circuit Court of Appeals issued a decision on December 23 allowing the government to move forward with […]
The IRS has announced an increase in the standard mileage rate for 2025, raising it by 3 cents per mile. Starting January 1, the rate for business-related driving will rise to 70 cents per mile, up from 67 cents in 2024. Mileage rates for other purposes, however, will remain the same as this year: These […]
New OSHA regulations will mandate that construction employers provide personal protective equipment (PPE) that properly fits workers based on their unique body types beginning in January 2025. PPE for Construction Workers Personal protective equipment (PPE) is clothing or equipment that protects the wearer from injury or illness caused by exposure to hazards. Properly fitting PPE […]
