Guide to the Corporate Transparency Act for Accounting and Finance Professionals (CTA2)
Overview
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By January 1, 2025, an estimated 32.6 million entities will be required to report information about their beneficial owners to FinCEN as part of the Corporate Transparency Act (CTA). In an effort to combat money laundering and other illegal activities, the law provides harsh penalties for the failure to report the required information. This reporting specifically targets small businesses and holding entities, creating opportunities for accountants, tax practitioners, and other business advisors to expand their service offerings. This webinar will equip you with the knowledge needed to help your clients navigate the complexities of the CTA. The course includes an overview of the CTA, a deep dive into the nuances and uncertainties of determining beneficial ownership, and a detailed discussion of what information needs to be reported to FinCEN.Highlights
Introduction to the Corporate Transparency Act and its goals Which entities need to file the reports Detailed discussion of the most common exemptions from reporting Deep dive into the definitions of “beneficial owner” and “substantial control” What, when, and how to report to FinCEN Practical tips and considerations for accounting and finance professionals
Prerequisites
None
Designed For
Accounting and finance professionals who service clients affected by the new CTA, and accounting and finance professionals whose own entity may be affected as well
Objectives
Understand the goals of the beneficial ownership reporting Identify what entities need to file the reports and what information needs to be provided
Preparation
None
Leader(s):
Leader Bios
Joseph Nicola Jr., Surgent McCoy
Joseph P. Nicola, Jr. JD, CPA, CVA
Joe Nicola is a Tax Partner with more than thirty-five years of experience in public accounting. Joe has experience in many diverse areas of taxation, including the taxation of and planning for individuals, family offices, and various forms of business entities, such as corporations, partnerships, and limited liability companies. Joe is particularly experienced in federal and multi-state tax matters that affect numerous industries and niches, including private equity, investments, natural resources, manufacturing, distribution, high technology, securities, and start-up businesses. He has consulted on technically complex matters, such as retirement planning, succession planning in the context of a family office, securities, partnership and corporate reorganizations and liquidations, and international tax matters. While in public practice, Joe also served for many years as an adjunct member of the faculty with Duquesne University's MBA and Master of Science in Taxation/Accountancy programs, as well as with Robert Morris University's Master of Taxation program. His course load included Corporate Taxation, Advanced Corporate Taxation, Reorganizations (Mergers and Acquisitions), Taxes as a Basis of Managerial Decisions, and Taxation of Derivatives. He is also a published author of CPE/CLE texts and industry articles, and a frequent professional speaker. Mr. Nicola received his BS degree in Business Administration from Robert Morris University and his JD degree from the University of Pittsburgh School of Law.
Non-Member Price $120.00
Member Price $95.00