Meeting/Event Information

Corporate Transparency Act (CTA) & Beneficial Ownership Information (BOI)

VNKSH-T-00263-24-O

2 hours Federal Tax Law/Federal Tax-Related Matters

Presented by~A.J. Reynolds, EA

This course qualifies for up to 2 hours of IRS CE Federal Tax Law/Federal Tax-Related Matters and is offered as a Live Webinar.  To receive full IRS CE credits, you must be logged in for at least 100 minutes of the presentation not including announcements and answer six of seven polling questions during the event.

Corporate Transparency Act (CTA) & Beneficial Ownership Information (BOI)

January 1, 2024 the 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. This act was developed to curve and expose illicit activity, money laundering, and concealment of ownership. Furthermore, this Act was developed to protect the United States and our National Security Interest.

The course will present tax professionals with up-to-date valuable knowledge on this act and how it will impact their practice and clients. In addition, we will provide a how to file the BOI reports either using FinCEN’s on line filing or by completing a pdf document and uploading at a later date on FinCEN’s website.

 Learning Objective:

ü  Evaluate what is the CTA.

ü  Explain who must file, when they must file, and information to provide.

ü  Define who are beneficial owners and company applicants.

ü  Layout what “Reporting Companies” need to submit.

ü  Portray which companies will be exempt from filing.

ü  Examine the Penalties associated with CTA.

ü  Deliver step by step instructions on filing the BOI reports for the CTA

ü  Provide an effective Resource Guide including engagement letters and client letters

ü  Analysis of Recent FAQs

Allan “A.J.” Reynolds, EA is an Enrolled Agent (EA) with immense experience in various areas of taxation, which encompasses over 30 years. His practice centers on individual, business and estate tax preparation, and he specializes in various areas of IRS representation.  AJ has been an Iowa Legal Aid volunteer for Tax Court cases and other tax issues.  He speaks regularly for multiple tax professional organizations including National Association of Enrolled Agents, National Association of Tax Professionals, and their affiliates and chapters. In addition to presenting in-person continuing education events, he has presented many webinars for these organizations.