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Free cpe webinars
Corporate Transparency Act: Managing the Risk of CTA Service Offerings

CORPORATE TRANSPARENCY ACT: MANAGING THE RISK OF CTA SERVICE OFFERINGS

Available Date(s)
Thursday, November 21, 2024: 9:00AM EST

Cost Free
CPE Credits 1.0 hour
Subject Area 1.0 - Business Law
CE Credits 0.0 hours
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

This webinar will discuss what practitioners need to know about the reporting requirements under the Corporate Transparency Act (CTA) and the potentially severe penalties associated with non-compliance. This course will also examine the numerous safeguards to protect an accountant from the uncertainty associated with providing beneficial ownership reporting (BOI) services to clients under the CTA. This examination will discuss the contractual fences to help minimize the risk of providing BOI services such as the use of effective engagement letters and management representation letters.

Our presenter will provide clarity on several grey areas of reporting under the CTA such as which entities are required to comply. Our discussion will also include a legislative overview of state enacted or proposed legislation similar to the CTA and related additional reporting requirements as well as recent legal developments potentially affecting current CTA legislation.

Learning Objectives:


  • Recognize which types of entities should be reported under the CTA including those which may be considered grey areas such as trusts, estates, and foreign entities

  • Evaluate the current legal challenges and a legislative initiative to repeal the CTA

  • Review state laws similar to the CTA in New York, California, Maryland, South Dakota, and Massachusetts

  • Identify the benefit of developing an effective engagement letter to help mitigate possible malpractice claims and the need for management representations

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Kevin Shaftan handles transactional matters and commercial litigation, representing accounting firms and other business entities in connection with various claims and disputes.

Before joining Wilson Elser, Kevin worked for 20 years at a small firm in lower Manhattan where he handled a wide variety of legal matters, specializing in commercial litigation, contract drafting and negotiating, breach of contract matters, corporate dissolutions and surrogate court work. He created and ran the intellectual property work in the firm, including filing for and maintaining trademarks and filing for copyrights.

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CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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About Our Presenter

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Nearly 800 attorneys strong, Wilson Elser serves clients of all sizes, across multiple industries. They have 29 strategically located offices in the United States and another in London. This depth and scale has made them one of the nation’s most influential law firms, ranked in the Am Law 200 and in the top 50 of the National Law Journal 350. Since their founding in 1978, Wilson Elser has forged a reputation as a formidable player in insurance coverage and defense. Their experience in this tightly regulated, cost-conscious industry has shaped a firm culture of accomplished professionalism and cost efficiency that delivers demonstrable value to clients. Today, Wilson Elser provides clients with full-service, first-class legal services, spanning the spectrum of litigation and related areas. They apply the discipline and diligence of effective litigation to virtually all areas of the law, drawing on a comprehensive roster of legal services to create multidisciplinary teams that give each client matter the best of the firm’s collective intelligence and capabilities.