Corporate Transparency Act (CTA) & Beneficial Ownership Information (BOI) Reporting
1 CPE for AFSP, EA, CPA, CRTP
On Jan. 1, 2024, beneficial ownership information (BOI) reporting went into effect. This reporting requirement is the result from the passage of the National Defense Authorization Act for Fiscal Year 2021, which included the Corporate Transparency Act (the CTA). This act will affect every LLC, S corporation, C corporation and any other entity required to be “registered” with their respective state.
The session will present tax professionals with up-to-date, valuable knowledge on the CTA and how it will impact their practice and clients. In addition, we will provide information on filing BOI reports either using FinCEN’s online filing system or by completing a PDF document and uploading it to FinCEN’s website.
Objectives
Upon completion of this session, you will be able to:
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Describe what the CTA is
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Analyze recent ruling and FAQs
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Explain who must file BOI reports, when they must file, and information to provide
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Specify the companies exempt from filing
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Examine the Penalties associated with CTA
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Provide an effective resource guide, including engagement letters and client letters
CPE information
Duration: 50 minutes
Course level: Update
Prerequisite: Basic understanding of business entities
Advanced preparation: None
Delivery method: Group Internet-Based