- Credits: 3
- Format: OnDemand® Webinar
- Field of Study: Federal Tax Law
- Author/Speaker: Art Werner/Bradley Burnett
|Course ID:||Advanced Preparation:||Experience Level:|
|EWTFM-T-01713-21-O | 6233-CE-0437||None||Overview|
|Published Date:||Program Prerequisites:||Other Course Formats:|
|© May 2020||General Understanding of Taxation||Video | Audio | Live Webinar|
As Coronavirus wreaks economic havoc, Congress and IRS have acted swiftly through the tax law in response. These relief efforts cut much deeper and wider than first meet the eye. By now, we’re 3 rounds of legislation and many rounds of IRS (and Labor) guidance into this thing. Let us cut your learning curve. This ad-free and fluff-free 3 hour session brings information you can use immediately via checklists and generous examples with wisdom, wit, and street smarts. Take this course and learn the immediate, detailed tax effects!
- CARES Act (Coronavirus Aid, Relief and Economic Security Act) - Moving targets, amended returns, and cash cow galore.
- Tax and liquidity planning in response to the CARES Act and in catastrophic economic times.
- Deferral of payment of 2019 taxes – Who, what, when, where, how much, how.
- Extension of filing deadlines? Which ones yes and which ones not.
- Why filing federal and state extensions by the original due date may be sick smart - Breakdown by state.
- IRS's rapidly changing approach to collections, the statute of limitation protection, and operations.
- Tax credits for paid sick and family leave – Deep cut knowledge needed here (Families 1st Recovery Response Act (H.R. 6201)).
- Waiver of penalties both inside and outside of a box.
- Cybersecurity mandates / IRS sanctioned protocols for working from home.
- An ear to the ground for ongoing developments.
After reading the course material, you will be able to:
- Provide relevant, detailed information to better prepare the tax preparer and their clients.
- Provide tax strategies/opportunities the tax practitioner may take to benefit his/her clients.
- Provide the tax practitioner with compliance guidelines for the new legislation.
- Identify pitfalls and penalties for non-compliance as pertains to CARES Act.
Who Should Attend:
- All Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Tax Return Preparers (TRPs)