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Webcast

BOI Reporting: A Step-by-Step How-to, Penalties, and What to Tell Clients

Practical walkthrough to Corporate Transparency Act Compliance and Reporting. Examine BOI requirements and filing procedures through hands-on examples for closely-held business entities.

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$98.00

Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
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CPE Credits

2 Credits: Taxes
Course Level
Basic
Format
Webcast

Course Description

This webcast CPE course describes the reporting requirements necessary for compliance with the Corporate Transparency Act (CTA). These requirements took effect in 2024. Certain business entities, including most closely-held businesses, must file beneficial ownership information (BOI) reports. This CPE program describes the entities and the owners affected by this rule, as well as the associated implications of the CTA. The CPE class uses a case study for a hands-on illustration of a simple BOI filling.

Important Update: Corporate Transparency Act
A federal court has issued a nationwide injunction halting the enforcement of the Corporate Transparency Act and its beneficial ownership information (BOI) reporting requirements that were to set to take effect on January 1, 2025. For more information, please refer to the eTax Alert: [Corporate Transparency Act Enforcement Blocked — For Now] (December 5, 2024).

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Learning Objectives

Upon completion of this course, participants will be able to:

  • Understand the objectives of the CTA.
  • Define a reporting entity and a beneficial owner.
  • Determine the entities exempt from reporting.
  • Distinguish a beneficial owner from a company applicant.
  • Prepare a FinCEN Identifier and BOI report.
  • Understand the timelines for initial reports and updates.
  • Comprehend penalties that may apply for failure to comply with the rules.
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Course Specifics

Course ID
WC1824373968
Revision Date
March 20, 2024
Prerequisites

None

Advanced Preparation

None

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02461-24-O
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-2014
CTEC Federal Tax Law Credits: 2

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

Robert W. Jamison, CPA, Ph.D.

Robert “Bob” W. Jamison, CPA, Ph.D., is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His principal area of specialization is S Corporations. He is the sole author of S Corporation Taxation, and co-author of Multistate Tax Guide to Pass-Through Entities, both of which are published annually by CCH, a Wolters Kluwer business. He is the author of the 2022 edition of Essentials of Federal Income Taxation, published annually by CCH, a Wolters Kluwer business. Bob is a well-known author and speaker on S Corporations. He is curator of Wolters Kluwer Answerconnect Topic “S Corporations” and subtopics …

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