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Overview

2.0 Credits
ONLINE

The December Stimulus package has just been released and includes major tax provisions that will be effective for the 2020 tax year, things that CPAs and tax preparers need to know NOW!  This presentation will include examples and case problems to illustrate and explain the law provisions.  This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives

  • • Identify and understand the latest developments and major tax law provisions impacting 2020 tax returns for both individuals and business taxpayers
  • • Apply useful strategies to assist in the tax preparation process

Major Topics

  • • PPP2 - The next round of the Paycheck Protection Program and how it integrates with PPP1
  • • PPP1 and PPP2 related deductions
  • • Stimulus payments for individuals, including dependents
  • • Expanded and refundable child care credit
  • • Credits for child care providers
  • • Employer credit for child care payments
  • • Employee retention credit for domestic workers
  • • Child and family care for essential workers
  • • Extended unemployment period and additional payment
  • • Extensions of prior legislation: mortgage loan forgiveness, interest deduction, energy provisions, depreciation of special assets
  • • And much more!

Designed For

CPAs in public practice seeking an update on the latest COVID-19 tax developments affecting both business and individual taxpayers.

Prerequisite

Basic working knowledge of business and individual taxation.
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You will receive an email from CPA Crossings with your access information to this webinar.