Many CPAs are contemplating providing beneficial ownership information (BOI) reporting services for their clients. Understand what’s involved. Then, engage in group analysis of the 2024 tax season.
DESIGNED FOR
CPAs and tax professionals in public practice
BENEFITS
- Understand BOI reporting requirements and understand how to advise or assist clients.
- Plan for the next tax season.
HIGHLIGHTS
The Corporate Transparency Act (CTA) went into effect on Jan. 1, 2024, and the initial deadlines for BOI filings will begin to come due 90 days into 2024. The first portion of this program will cover:
- The entities that are subject to the BOI reporting rules
- The initial reporting deadlines and the impact of entity formation dates
- The definitions of beneficial owners, categories of substantial control and 25% ownership
- Reporting requirements for company applicants in entities formed after 2023
- Mandatory disclosure information for entities, company applicants, and beneficial owners
Then, we’ll have an open forum discussion about the 2024 tax filing season:
- What went well this tax season and why?
- What training can be implemented to improve next year’s results?
- What procedures can be improved?