Compass Tax Educators

The Corporate Transparency Act (CTA) established federal information reporting requirements for certain types of corporations, limited liability companies, and other entities created in or registered to do business in the United States. These reporting requirements go into effect January 1, 2024 and affect existing business entities. This course provides an overview of the filing requirements and when entities must comply with the new requirements.

Learning Objectives:

• Define what is a reporting company and the exemptions from the reporting company definition

• Define who is a beneficial owner and the exemptions from the beneficial owner definition.

• Describe what information must be included in a beneficial ownership information report.

• Explain the timing rules for entity compliance with beneficial ownership information reporting.

Education Information

IRS Program Number: NMVBP-T-00252-23-S

Length: 50 minutes plus optional question-and-answer session (no CE)

Prerequisite: None

Advanced Preparation: None

Program Level: Basic

Delivery Method: QAS Self-Study (NASBA) / On-Demand (IRS)

Field of Study: Taxes (NASBA) / Federal Tax Law Topics/Federal Tax Related Matter (IRS)

Credit hours: 1 NASBA CPE / 1 IRS CE

Information can be found quickly by searching key terms in the text/PowerPoint using the built-in search feature.

Course expires one year after purchase.

Instructor: Thomas Gorczynski, EA, CTP, USTCP Click here to learn more about the instructor.

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here for more information regarding our refund and education policies.