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Secure Transaction CPE Credits
1 Credits: Taxes
Course Level
Overview
Format
Self-Study
Course Description
Navigating the complexities of the Corporate Transparency Act (CTA) poses a significant challenge for tax, accounting, and finance professionals. Understanding the key terms, responsibilities, and reporting requirements under the Act can be daunting, especially given the nuances of tax engagement letters, filing deadlines for existing entities, and the challenges of implementation. Additionally, ensuring compliance without a comprehensive grasp of the CTA can lead to potential failures in reporting, impacting clients and the organization’s legal standing. This intricate landscape requires a detailed and practical understanding of the CTA to effectively navigate its stipulations and implications.
This course provides an in-depth exploration of the Corporate Transparency Act, tailored to guide professionals through its key objectives, stipulations, and implementation. It covers essential aspects such as the definition of a ‘Beneficial Owner,’ the criteria for such classification, and the specific information required to be reported to the Financial Crimes Enforcement Network. The course also delves into the processes and requirements for updating reports about beneficial owners, including those deceased, and outlines the timeline obligations for reporting companies created or registered before January 1, 2024. By understanding what type of entities are exempt from filing and why, along with the benefits of e-filing FBAR reports, participants will be well-prepared to ensure CTA compliance, safeguarding their clients and their practice.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Understand the key objectives and stipulations of the Corporate Transparency Act(CTA); and
- Identify the processes and requirements for updating reports about beneficial owners, including deceased beneficial owners; and
- Understand the timeline obligations for reporting companies created or registered before January 1, 2024, for filing their initial reports; and
- Distinguish what type of entities are exempt from filing under the CTA and why; and
- Recognize the specific information required to be reported to the Financial Crimes Enforcement Network under the CTA; and
- Define ‘Beneficial Owner’ under the Corporate Transparency Act(CTA) and the criteria for such classification.
Course Specifics
SS823336748
July 25, 2023
There are no prerequisites.
None
31
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02625-24-S
IRS Federal Tax Law Credits: 1
CTEC Course Number: 2071-CE-1925
CTEC Federal Tax Law Credits: 1
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Jane Ryder, EA, CPA is the owner of Brass Tax Ryder Professional Group, Inc., a full service tax and accounting firm. Brass Tax (not affiliated with Brass Tax Presentations) has been providing tax and accounting services since 1980. Jane received a BS in Business Administration (Accounting) from SDSU and is currently licensed with the California State Board of Accountancy and with the Internal Revenue Service as an Enrolled Agent. Brass Tax is a business centric practice, preparing and consulting on the preparation of Corporations, S-corporations, LLC’s, Partnerships, and Trusts. She also specializes in IRS and state agencies collection problems, payment …
QAS Self-Study
