Related News & Posts
Meg Scoopmire Named 2025 Best Lawyers® ‘Lawyer of the Year’ for Real Estate Law in Greenville
March 19, 2025
The 2025 edition of Best Lawyers® has recognized Haynsworth Sinkler Boyd P.A. shareholder and Real Estate practice group co-leader Meg Scoopmire as a “Lawyer of the Year” in Greenville.Reid Sherard Named 2025 Best Lawyers® ‘Lawyer of the Year’ for Family Law in Greenville, South Carolina
March 10, 2025
The 2025 edition of Best Lawyers® has named Haynsworth Sinkler Boyd P.A. shareholder Reid Sherard “Lawyer of the Year” for Family Law in Greenville, South Carolina.New Deadlines for FINCEN Compliance Issued
February 21, 2025
Update as of 3/3/25: On February 27, 2025, FinCEN announced it will not impose penalties on companies that do not submit their beneficial ownership information reports by the March 21 deadline. The agency plans to issue an interim final rule to establish new reporting deadlines no later than March 21 and intends to revise the Beneficial Ownership Information Reporting Rule this year. On March 2, 2025, the Treasury Department clarified that no penalties will be imposed on U.S. citizens or domestic companies, even after the upcoming rule changes. Instead, it will propose new rulemaking to narrow the scope of the requirement to only foreign reporting companies. Additional information can be found on FinCEN’s website at https://www.fincen.gov/. We are closely monitoring developments and legislation and will continue to provide updates on this blog as soon as they are available.The Corporate Transparency Act (CTA) introduced substantial new reporting obligations for a wide array of corporate entities. Generally, any domestic entity formed by filing documents with a secretary of state or similar office – such as corporations, limited liability companies, limited partnerships, and limited liability partnerships – is considered a reporting company subject to these requirements. The CTA also applies to foreign entities registered to conduct business through similar filings.
Will Johnson, Frank Davis Named 2025 Best Lawyers® ‘Lawyer of the Year’ for Economic Development Law for Columbia, Greenville
February 20, 2025
The 2025 edition of Best Lawyers® has named two Haynsworth Sinkler Boyd P.A. shareholders “Lawyer of the Year” for Economic Development Law in their respective regions.Haynsworth Sinkler Boyd Welcomes Shareholder William Gibbs to Greenville, Counsel Lauren Offord to Raleigh
February 07, 2025
Continuing the firm’s approach to client-centered strategic growth, Haynsworth Sinkler Boyd P.A. welcomes two new attorneys. Corporate and transactional lawyer William F. Gibbs joins as a shareholder in Greenville, South Carolina, while commercial real estate attorney Lauren E. Offord will serve as special counsel in Raleigh, North Carolina.South Carolina County Tiers and Per Capita Income Levels Announced for 2025
January 15, 2025
The HSB Economic Development team published their January 2025 news update, highlighting the following topics:Haynsworth Sinkler Boyd Elects New Shareholders
December 30, 2024
Haynsworth Sinkler Boyd, P.A. is pleased to announce that Tyler K. Gilliam and Jonathan D. Klett have been elected as Shareholders in the firm, effective January 1, 2025.
Navigating FinCEN Compliance: Quickly Approaching Deadlines for Businesses formed before 2024
November 20, 2024
Important Update:
3/03/2025: On February 27, 2025, FinCEN announced it will not impose penalties on companies that do not submit their beneficial ownership information reports by the March 21 deadline. The agency plans to issue an interim final rule to establish new reporting deadlines no later than March 21 and intends to revise the Beneficial Ownership Information Reporting Rule this year. On March 2, 2025, the Treasury Department clarified that no penalties will be imposed on U.S. citizens or domestic companies, even after the upcoming rule changes. Instead, it will propose new rulemaking to narrow the scope of the requirement to only foreign reporting companies. Additional information can be found on FinCEN’s website at https://www.fincen.gov/. We are closely monitoring developments and legislation and will continue to provide updates on this blog as soon as they are available.
2/20/2025: The injunctions on the Corporate Transparency Act detailed below have all been lifted. As of February 20, 2025, the deadline for most companies to file their BOI Report is March 21, 2025. All companies formed on or prior to February 20, 2025, must file their initial BOI Report, and update any previously filed reports if necessary, by March 21, 2025. All companies formed after February 20, 2025, have 30 calendar days to file their initial BOI Report. Note, if a reporting company’s principal place of business is located in an area designated by both FEMA and the IRS as qualifying an individual for public assistance and filing relief as a result of a hurricane or other natural disaster, the reporting company may have a further extension to file its BOI Report. Additional information can be found on FinCEN’s website.
1/27/2025: On January 23, 2025, the U.S. Supreme Court granted the government's motion to stay a nationwide injunction issued by the U.S. District Court for the Eastern District of Texas in Texas Top Cop Shop, Inc. v. McHenry (formerly Texas Top Cop Shop, Inc. v. Garland). However, a separate nationwide order in Smith v. U.S. Department of the Treasury from another federal judge in Texas remains in effect. As a result, reporting companies are not currently required to file beneficial ownership information with FinCEN, despite the Supreme Court's decision. They may, however, choose to voluntarily submit these reports.
12/27/24: On December 26, 2024, the United States Court of Appeals for the Fifth Circuit vacated its own stay of the nationwide injunction. Thus, Reporting Companies are not obligated to comply with the Corporate Transparency Act at this time. We will continue to provide updates on this issue.
12/26/24: On December 23, 2024, the United States Court of Appeals for the Fifth Circuit lifted the nationwide injunction prohibiting the enforcement of the CTA. Thus, Reporting Companies are once again obligated to comply with the Act. Fortunately, however, FinCEN extended the January 1, 2025 deadline for reporting companies to January 13, 2025.
12/3/24: A nationwide preliminary injunction has been issued prohibiting the enforcement of the CTA and the required reporting filed thereunder. This means companies are not currently required to comply with the January 1, 2025 reporting deadline. However, an appeal has been filed by the Department of Justice so the injunction could be lifted or amended at any time. Therefore, we recommend continuing to gather the information needed to complete the report as if the January 1, 2025 deadline were still in effect. It is optional whether you want to go ahead and voluntarily file the BIO report or wait for further court action.
A variety of businesses, such as LLCs, LLPs, partnerships, and corporations, formed before January 1, 2024, have until January 1, 2025, to file their initial report with the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).
Haynsworth Sinkler Boyd Welcomes Five New Associates
November 12, 2024
Haynsworth Sinkler Boyd, P.A. is pleased to announce that Kate Childs, Catherine R. Langdon, Ashley Long, Sarah J. Reisinger and Chloë Satzger have joined the firm.
Haynsworth Sinkler Boyd Recognized as a 2025 “Best Law Firm” by Best Lawyers®
November 07, 2024
Haynsworth Sinkler Boyd, P.A. has been named a top-tier firm by Best Lawyers® in its 2025 “Best Law Firms” rankings for the 15th consecutive year.