On-Demand


2 CPE

Corporate Transparency Act Developments

On-Demand
2 CPE

Learning Objectives

  • Analyze the CTA’s reporting requirements for certain businesses.
  • Identify how the business will file its reporting requirements with FinCEN relating to the beneficial owners.
  • Identify who must file a report and what information must be provided.
  • Recall the necessary information needed for each Reporting Company.
  • Identify which individuals must be included in the report.
  • Recognize which entities are excepted from filing.
  • Recall what penalties are imposed for not reporting on a timely basis.
  • Formulate a plan for reporting post-NSB.
  • Compare the potential implications of FinCEN’s proposed rulemaking with respect to non-financed purchases of residential real estate and gratuitous transfers.

Major Topics

  • Background of the Corporate Transparency Act
  • Beneficial Ownership Information Reporting (BOIR) Rule
  • Entities required to report.
  • Reporting requirements imposed by the CTA
  • Due dates of reports
  • Information needed to satisfy the BOIR
  • Impact of failure to report
  • How to submit a report
  • Court rulings on CTA’s unconstitutionality
  • Implications to entities as a result of the ruling in NSB.
  • Potential reporting requirements due to FinCEN’s proposed rulemaking with respect to non-financed purchases of residential real estate and gratuitous transfers.

CPE Credits Available

2 CPE
2
Taxes

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Practitioners
  • Tax
  • Practitioner
  • Taxation
  • Tax; Taxation
  • Pracitioner's

Prerequisites

None

Advanced Preparation

None

Intended Audience

This course is suitable for corporate tax and finance executives, directors, managers and staff, CPAs, CAs, Enrolled Agents, accountants, attorneys, and business/financial advisors who work with and advise businesses and individuals that have these tax implications.

Provider

CPA Crossings

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