On July 4, 2025, President Donald J. Trump signed Public Law No. 119‑21, better known as the One Big Beautiful Bill Act (OBBBA). The OBBBA introduces significant changes to the tax treatment of charitable contributions for both corporations and individuals, effective for taxable years beginning…
Krieg DeVault LLP is pleased to announce that attorney Keaton J. Miller has joined the firm as a member of its Financial Institutions Practice. Mr. Miller brings with him a distinctive combination of legal and financial industry experience, having served as Senior Vice President and Senior…
In a significant victory for faith-based nonprofit organizations, the U.S. Supreme Court issued a unanimous 9–0 decision in Catholic Charities Bureau, Inc. v. Wisconsin Labor & Industry Review Commission,1 holding that the State of Wisconsin violated the First Amendment when it denied a Catholic…
In a significant development that could affect the operations and messaging of religious nonprofits, the Internal Revenue Service (IRS) recently filed a court document suggesting that pastors who endorse political candidates from the pulpit should not necessarily endanger their church’s tax-exempt…
Tax-exempt organizations of nearly every ilk must monitor recent activities targeting Harvard University to determine if those actions call for a reassessment and possibly redesign of operations and advocacy activities. While direct political involvement by exempt organizations have always had a…
An interim final rule was issued by the Financial Crimes Enforcement Network (“FinCEN”) on March 21, 2025, eliminating the reporting obligations that U.S. entities and U.S. persons formerly stood to bear under the beneficial ownership information (“BOI”) reporting requirements of the Corporate…
I attended law school to become a patent attorney. I didn’t know at the time what that really meant, or even that patents are but one type of intellectual property (IP). I did know that an engineering career was not for me, but patent law could be a way to leverage my engineering background into an…
On February 21, 2025, a U.S. District Judge in Baltimore, Maryland ruled that executive orders recently issued by President Trump to roll back Diversity, Equity, and Inclusion (“DEI”) programs likely violate the First Amendment. The judge temporarily blocked the enforcement of these executive…
On Sunday, March 2, 2025, the Treasury Department announced that it has suspended enforcement of the Corporate Transparency Act (CTA) with respect to US citizens and domestic companies. This signals the likely death knell of the CTA for US based reporting companies and their owners after its…
The Department of Treasury’s Financial Crimes Enforcement Network (commonly known as “FinCEN”) announced February 27, 2025 “that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership…
The CTA bounces back again. On February 18, 2025, 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 (E.D. Tex.) granted the Department of Justice’s motion to stay an injunction that previously paused the effect of…
Yesterday, on January 23, 2025, the United States Supreme Court stayed one of the injunctions against enforcement of the Corporate Transparency Act (CTA) pending the completion of the appeal process at the Fifth Circuit Court of Appeals. Yet, a different nationwide injunction appears to remain in…
