Tax pros: Be careful what you tell clients about BOI
Accounting Today
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Affected businesses may turn to their accountants for help, but are firms the best source to help clients report beneficial ownership information to the feds?
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Millions of small companies this year have a limited time to report information on their "beneficial" owners as part of efforts of the federal Corporate Transparency Act via the U.S. Treasury's Financial Crimes Enforcement Network.
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Manager of Accounting & Human Resources | Shipspry, LLC
11 个月I had heard that accountants weren’t allowed to advise their clients on how to go about filling out this information, that only legal counsel could advise them. We’ve been instructed not to help our clients at all, and to tell them to go to their lawyer with these questions. Makes sense, since just what you want to do is pay a lawyer $100 an hour or more to do something that will take them twice as long as an accountant. ??