New Jersey Indicates CPAs can File BOI reports

New Jersey indicates that CPAs and Enrolled Agents can help assist with filing BOI reports

Photo by Dan Cardoza on Unsplash

The New Jersey Committee on the Unauthorized Practice of Law which was appointed by the New Jersey Supreme Court indicated in a letter to the New Jersey Society of CPAs that CPAs and enrolled agents are allowed to help clients in the preparation of the beneficial ownership information reporting.

However, they indicate that the CPA or enrolled agent should communicate to the client that the client may want to check with their attorney.

It is our understanding that many states take this approach but there may be other states that indicate this is not allowed.

It would be helpful if there was a national standard on this since in many cases a CPA has clients in multiple states, and it would be difficult to determine what each state’s stance is on this subject.

Since it appears the Supreme Court will rule on whether this is constitutional by year-end, perhaps the National ABA and AICPA are waiting for that determination first.

We shall see and keep you posted.