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House passes PPP deadline extension in 415-3 vote

March 17, 2021

A bill to move the Paycheck Protection Program application deadline from March 31 to May 31 sailed through the U.S. House of Representatives on Tuesday night, passing in a 415-3 vote that sends the legislation to the Senate for consideration.

  • business and industry
  • coronavirus
  • practice management
  • advocacy - federal
  • federal tax

Navigating the Mental and Physical Wellness Challenges of COVID-19

March 17, 2021

As the pandemic stretches past the one-year mark, CPA firms are in uncharted employee wellness territory – from having to navigate decisions about the COVID-19 vaccine to finding ways to support employee mental wellness.

  • business and industry
  • coronavirus
  • practice management

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline

March 17, 2021

The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.

  • coronavirus
  • state tax
  • advocacy - federal
  • federal tax

Post-COVID State Tax Policy Changes

March 16, 2021

Programs and policies designed to soften the economic impact of the pandemic are still being rolled out today, and may continue at the state level.

  • coronavirus
  • state tax

6 tips for mitigating and recovering from burnout

March 15, 2021

Three-quarters of more than 1,500 respondents to an August survey from FlexJobs and Mental Health America reported experiencing burnout at work in 2020, with 40% attributing that burnout directly to the pandemic.

  • business and industry
  • career resources
  • coronavirus
  • practice management

Governor Lamont Announces Accelerated Schedule To Provide COVID-19 Vaccines To Connecticut Residents as Quickly and Equitably as Possible

March 15, 2021

Governor Ned Lamont today announced that he is accelerating Connecticut’s age-based rollout of the COVID-19 vaccine to proceed on a quicker schedule than was originally anticipated when it was announced last month.

  • coronavirus
  • advocacy - state

SBA EIDL Payments Not Due Until 2022

March 15, 2021

mall businesses have even more time to pay off certain emergency loans as the SBA said the first due date for repayment of EIDLs made in 2020 is extended from 12 months to 24 months from the date of the note. For loans made in 2021, including loans under the COVID-19 EIDL program, the first payment due date is extended from 12 months to 18 months from the date of the note.

  • business and industry
  • coronavirus
  • practice management
  • federal tax

American Rescue Plan's Individual Tax Breaks

March 11, 2021

The signing of the American Rescue Plan comes just a few days before extended unemployment benefits were scheduled to start running out. There are several tax breaks for individuals to take note of.

  • coronavirus
  • personal financial planning
  • state tax
  • federal tax

The American Rescue Plan Act of 2021 & IRS Notice 2021-20: New Stimulus Coverage & Changes to PPP Loan Forgiveness/Employee Retention Tax Credit

Mar 19th 9:00am - 12:30pm

Online

4.00 Credits

Please note: major topics are expected to be those shown below but are subject to possible change based on final legislation. From the American Rescue Plan Act of 2021: $1,400 stimulus checks for each family member First $10,200 in unemployment for 2020 will not be taxed Student loan forgiveness exempt from tax through 2025 Changes to the Child Tax Credit, the Earned Income Tax Credit, and the Child and Dependent Care Tax Credit Extension of employer credits for sick leave and family leave The Employee Retention Tax Credit and the Premium Tax Credit in 2021 Tax treatment of targeted EIDL advances Restaurant Revitalization grants Subsidized COBRA continuation coverage PPP loan changes for 2021 Coverage of any other relevant tax provisions From IRS Notice 2021-20: How to claim the ERTC Options for taxpayers eligible for the ERTC who did not claim it for 2020 Eligible employers The ERTC and its interaction with PPP loans The maximum amount of an employer’s ERTC Meaning of full and partial suspension of business The deemed election for qualified wages Aggregation rules Significant declines in gross receipts

NEW 2020 Stimulus Bill: Tax Provisions You Need to Know NOW

Mar 23rd 1:00pm - 3:00pm

Online

2.00 Credits

• 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!

COVID-19: Updated PPP Loan Provisions and Forgiveness

Mar 29th 11:30am - 2:30pm

Online

3.00 Credits

The major topics that will be covered in this course include: • New Stimulus PPP loan provisions and how retroactive changes to PPP1 affect what to do about forgiveness of those loans • Comparison of PPP1 and PPP2 loans – application and forgiveness forms •  “Real-life” examples – practice issues CPAs are dealing with in these extraordinary times • Tax and accounting issues arising from the loan and loan forgiveness provisions – deductions vs. income exclusion • Comprehensive example filled in on loan forgiveness application

NEW 2020 Stimulus Bill: Tax Provisions You Need to Know NOW

Apr 5th 10:30am - 12:30pm

Online

2.00 Credits

• 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!

COVID-19: Updated PPP Loan Provisions and Forgiveness

Apr 8th 1:00pm - 4:00pm

Online

3.00 Credits

The major topics that will be covered in this course include: • New Stimulus PPP loan provisions and how retroactive changes to PPP1 affect what to do about forgiveness of those loans • Comparison of PPP1 and PPP2 loans – application and forgiveness forms •  “Real-life” examples – practice issues CPAs are dealing with in these extraordinary times • Tax and accounting issues arising from the loan and loan forgiveness provisions – deductions vs. income exclusion • Comprehensive example filled in on loan forgiveness application

NEW 2020 Stimulus Bill: Tax Provisions You Need to Know NOW

Apr 22nd 12:30pm - 2:30pm

Online

2.00 Credits

• 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!

COVID-19: Updated PPP Loan Provisions and Forgiveness

Apr 30th 1:30pm - 4:30pm

Online

3.00 Credits

The major topics that will be covered in this course include: • New Stimulus PPP loan provisions and how retroactive changes to PPP1 affect what to do about forgiveness of those loans • Comparison of PPP1 and PPP2 loans – application and forgiveness forms •  “Real-life” examples – practice issues CPAs are dealing with in these extraordinary times • Tax and accounting issues arising from the loan and loan forgiveness provisions – deductions vs. income exclusion • Comprehensive example filled in on loan forgiveness application

Surgent's Accounting & Financial Reporting Considerations Related to COVID-19

Available Until Mar 31st

Online

2.00 Credits

• Financial statement accounts likely affected by COVID-19 impacts • Asset impairment accounting models for financial and non-financial assets • Other financial asset valuation impacts • Effects of COVID-19 on revenue recognition under ASC 606 • COVID-19 effects on lease accounting • Presentation and disclosure requirements related to COVID-19 uncertainty • COVID-19 impact on SEC registrants