DESCRIPTION
The Corporate Transparency Act of 2022 has become the subject of discussion among several people, especially business owners, CPAs, and attorneys, who are mostly debating about the pros and cons of what it means for them and their clients. It is designed to bring more knowledge to the US government of business ownership to prevent people from conducting illegal activities through business entities.
This act is expected to build a pathway for FinCEN (Financial Crimes Enforcement Network) to develop a standardized reporting of companies being formed in the USA and their disclosure of beneficial ownership information.
Recently, regulations were passed for reporting requirements for almost all businesses to file with FinCEN relating to the beneficial owners of their business. The rule describes who must file a BOI report, what information must be reported, and when a report is due. The effective date for the final rule is January 1, 2024. The details for how this reporting obligation will be implemented were left for FinCEN to provide through rulemaking.
This Online Tax Webinar covers the following major key topics:
- Corporate Transparency Act
- Final Rule Released
- Who Reports
- Exemptions
- What is Reported?
- What’s Next?
Learning Objectives:
- To analyze regulations for reporting requirements of the business.
- To discuss how the business will file its reporting requirements with FinCEN relating to the beneficial owners.
- To identify who must file a report and what information must be provided.
Credits and Other information:
- Recommended CPE credit – 2.0 Tax Hours
- Recommended field of study – Tax
- Session Prerequisites and preparation: None
- Session learning level: Advanced
- Location: Virtual/Online
- Delivery method: Group Internet Based/Self-Study
- NASBA Sponsor: 138804
- IRS Course ID: DFFSC
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
Who Will Benefit:
- CPA
- Enrolled Agents (EAs)
- Tax Professionals
- Attorneys
- Other Tax Preparers
- Finance professionals
- Financial planners
Download Conference Material
Pioneer Educator is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
