Two new additions to the COCPA Resource Center offer guidance and updates on two important topics: the Corporate Transparency Act and updated power of attorney forms.

• Risk Management and the Corporate Transparency Act (CTA), a white paper offering tips on mitigating the unique risks that CPA firms may encounter when delivering CTA compliance/beneficial ownership information (BOI) reporting services. The white paper also offers links to several other helpful tools and sites related to CTA and BOI reporting, including a sample engagement letter.
  
• CDOR Begins Accepting Updated Power of Attorney Forms, which includes links to two new power of attorney forms that the Colorado Department of Revenue began accepting on February 12, 2024. Both forms – the updated DR 0145 Colorado Tax Information Authorization of Power of Attorney and the Multistate Power of Attorney form – reflect changes from the prior version of form DR 0145. The Department will stop accepting new submittals of the prior form DR 0145 after April 15, 2024. Prior forms already submitted do not need to be updated, but will remain effective until they are expired, revoked, or withdrawn.

Visit the members-only COCPA Resource Center to access these and other tools and resources – including articles, white papers, fact sheets, videos, and reports – searchable by topic and designed to help you succeed.