The Department of Justice (DOJ) asked the U.S. Supreme Court on Dec. 31, 2024, for an emergency order resurrecting a federal anti-money laundering law that lower courts blocked weeks earlier. The statute, known as the federal Corporate Transparency Act (CTA), required millions of business entities to file information returns about their owners by Jan. 1, 2025. An estimated 33 million small businesses reportedly face fines of as much as $591 per day should they fail to comply with the new rule. Businesses with upwards of 20 employees, $5 million in annual sales, and a U.S. office qualify for exemptions from CTA reporting requirements. The law stipulates that affected corporate entities must file reports with the federal government about their beneficial owners, which means individuals with substantial control over the entity or who own or control 25 percent of the entity. Entities were required to provide the government with the names of their beneficial owners, along with their birthdates, addresses, and identifying information such as passport or driver’s license numbers….