PATAX
Level 15

Just wondering what you all are going to do since we are approaching the deadline here in  four months I believe. From what I have seen myself on forums it looks like most CPAs and tax professionals are apparently not going to prepare this, but I may be wrong. I am leaning against it as of now. The 30-day provision to notify when there are changes I believe, the steep ridiculous penalties, and apparent reluctance of some insurance companies to cover this, are just three of the factors that are discouraging me from getting involved with this. If I do not get involved with this then I will be sending a letter out to business clients letting them know that they are responsible for this. If I did get involved with it then I would prepare an iron clad engagement letter separately for this CTA/BOI so I would not be responsible for any penalties. What are all of you guys and girls going to do? Thanks.