Guide to the Corporate Transparency Act for Accounting and Finance Professionals

Friday, June 28, 2024
8:30 AM - 10:30AM (opens at 8:00 AM) EST
2Credits
Technical Business

Registration is Open

Members
$95.00 Regular Price
Non-Members
$120.00 Regular Price
Course Type: CPE Seminars
Course Code: 24/CTA26WS
Level: Basic
Vendor: Surgent
Field of Study: Finance

Overview:

Effective January 1, 2024, 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. The reports require the listing of all "beneficial owners," and they are imprecisely defined, possibly requiring an exercise of judgement. Therefore, proper education of professionals and business owners is paramount for accurate reporting. The course includes an overview of the CTA and a detailed discussion of what information needs to be reported to FinCEN.

Speaker - Nicola, Jr. JD, CPA, CVA, Joseph P.

Objectives:

Understand the goals of the beneficial ownership reporting Identify what entities need to file the reports and what information needs to be provided

Presenters:

  • Joseph Nicola Jr.

    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...

    Read more about Joseph Nicola Jr. here

Presenters:

Joseph Nicola Jr.

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...Read more about Joseph Nicola Jr. here

Major Topics:

The Corporate Transparency Act and its goals Which entities need to file reports and which entities are exempt? Deep dive into the definitions of beneficial owner and substantial control Information that needs to be reported Logistics on how and when to file the forms

Major Topics:

The Corporate Transparency Act and its goals Which entities need to file reports and which entities are exempt? Deep dive into the definitions of beneficial owner and substantial control Information that needs to be reported Logistics on how and when to file the forms

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

Prerequisites:

None