Following the release of the nationwide preliminary injunction barring FinCEN from enforcing the Corporate Transparency Act and the beneficial ownership information (BOI) requirement, CPAs and their clients have a number of questions about how to deal with the uncertainty over whether this report will be required ultimately and, if so, when.
BENEFITS
Understand the current status of the BOI filing requirement and what the future may hold.
HIGHLIGHTS
On Dec. 3, a federal court in Texas ruled in the case of Texas Top Cop Shop Inc. v. Garland to halt the implementation of the BOI filing requirement. This webinar will go over the current status of the injunction as of the date the course is presented, whether entities can still file reports during the injunction and questions about preparing to file reports if required. Topics covered will include:
- The rationale of the Texas Top Cop Shop Inc. decision that led to the injunction, as well as the contrary rationale of the Firestone v. Yellen and Community Association Institute v. Yellow cases that rejected requests to issue preliminary injunctions
- The pending 11th Circuit decision in National Small Business United v. Yellen - the potential impact of a decision from the first Court of Appeals to hear the matter
- A review of what entities would be required to file should the injunction be lifted
- A look at some of the areas where CPAs may be uncertain regarding the final rules and guidance in the FAQ for the filing
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None