Lee B Posted December 11, 2023 Report Share Posted December 11, 2023 Here is a link to register for a FINCEN online webinar about Beneficial Ownership Reporting this Wednesday: https://fincen.zoomgov.com/webinar/register/WN_lh7pK9P8T5WD7w4ZPAYCGw 2 Quote Link to comment Share on other sites More sharing options...
Lynn EA USTCP in Louisiana Posted December 11, 2023 Report Share Posted December 11, 2023 reigstration is already closed for this webinar, minutes after receiving the email 1 1 Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted December 11, 2023 Report Share Posted December 11, 2023 Hmm, if closed so quickly, I do hope it is offered again and soon! 1 Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted December 11, 2023 Report Share Posted December 11, 2023 36 minutes ago, Lynn EA USTCP in Louisiana said: reigstration is already closed for this webinar, minutes after receiving the email Overwhelming demand for knowledge and compliance guidance.... Tom Longview, TX 2 Quote Link to comment Share on other sites More sharing options...
kathyc2 Posted December 11, 2023 Report Share Posted December 11, 2023 Click on English in link to download pdf guide. https://www.fincen.gov/boi/small-entity-compliance-guide 2 1 Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted December 11, 2023 Report Share Posted December 11, 2023 Thanks! Quote Link to comment Share on other sites More sharing options...
Lion EA Posted December 11, 2023 Report Share Posted December 11, 2023 Thanks for the Guide. Just what I need: 57 pages! It's on my desktop to be handy. Hope someone does distill this for us. I'm really leaning toward NO new tasks that don't improve my clients' tax situations. However, I need to know what to tell them or not tell them. Maybe a 2nd page in my engagement letter for those with Schedules C and entities. By the way, do Schedules E & F count? And, I've yet to contact my E&O carrier. Probably because I'm hoping they say NO. Quote Link to comment Share on other sites More sharing options...
kathyc2 Posted December 11, 2023 Report Share Posted December 11, 2023 23 minutes ago, Lion EA said: Thanks for the Guide. Just what I need: 57 pages! It's on my desktop to be handy. Hope someone does distill this for us. I'm really leaning toward NO new tasks that don't improve my clients' tax situations. However, I need to know what to tell them or not tell them. Maybe a 2nd page in my engagement letter for those with Schedules C and entities. By the way, do Schedules E & F count? And, I've yet to contact my E&O carrier. Probably because I'm hoping they say NO. It's pretty easy reading. I got through it in around an hour. See chart on page 2. The form they file doesn't matter so much as if the C, E or F business is a LLC. 3 Quote Link to comment Share on other sites More sharing options...
kathyc2 Posted December 11, 2023 Report Share Posted December 11, 2023 IRS has on demand video of webinar: https://www.irsvideos.gov/Webinars/BeneficialOwnershipInformationpresentedbyFinancialCrimesEnforcementNetworkFinCEN 2 Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted December 12, 2023 Report Share Posted December 12, 2023 8 hours ago, Lion EA said: Thanks for the Guide. Just what I need: 57 pages! It's on my desktop to be handy. Hope someone does distill this for us. It is actually a well written document with a table of contents, chapter summaries, checklist, flowcharts and examples. About 30 minutes to get a good grasp. 8 hours ago, kathyc2 said: See chart on page 2. The form they file doesn't matter so much as if the C, E or F business is a LLC. Or corporation or entity registered with Sec. Of State (page 2) unless exceptions are met (page 4). One takeaway is the filing deadlines: "If your company already exists as of January 1, 2024, it must file its initial BOI report by January 1, 2025. If your company is created or registered to do business in the United States on or after January 1, 2024, and before January 1, 2025,..." 2 Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted December 12, 2023 Report Share Posted December 12, 2023 9 hours ago, Lion EA said: And, I've yet to contact my E&O carrier. Probably because I'm hoping they say NO. The E&O carriers and AICPA are currently backing away with concerns the reporting might be seen as a legal matter, but I think that might change once the dust settles. For my existing clients I refer them to the Jan 2024 vs 2005 reporting requirements. 1 Quote Link to comment Share on other sites More sharing options...
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