DON FARMER’S 2021 TAX UPDATE WILL GET YOU UP TO SPEED ON THE AVALANCHE OF TAX CHANGES EFFECTIVE IN 2020 AND 2021 INCLUDING PROVISIONS IN THE 5,593 PAGE CONSOLIDATED APPROPRIATIONS ACT OF 2021 SIGNED BY THE PRESIDENT ON 12/27/20.
2020 has been a most unusual year! Not only because of COVID-19, but also for the volume of tax changes. The Consolidated Appropriations Act of 2020 was signed on 12/20/19 and contains more than 25 retirement plan changes for 2020; then came the FFCRA signed on 3/18/20 providing employers credits for payments of Sick Leave or Family Leave wages; next the CARES Act was signed on 3/27/20 providing Economic Impact Payments (EIPs) to individuals and tax relief to Individuals and businesses; and finally, the Consolidated Appropriations Act of 2021 (CAA) was signed on 12/27/20 providing retroactive pro-taxpayer changes to the PPP loan provisions, new rules for taxing EIDL grants, and a mirid of income tax changes affecting individuals and businesses including an extension of more than 30 tax benefits scheduled to expire after 2020. In addition, the IRS has issued important regulations and other guidance during 2020.
The following are just some of the topics Don will cover in his Tax Update:
To review major developments in federal income taxation for individuals, corporations, and other businesses having the greatest impact on participants, clients, and companies.
The seminar includes:
The presentation will emphasize tax planning opportunities resulting from these recent developments. The course material also includes:
Individuals having one or more Tax Seasons and a general understanding of individual, corporate and business income taxation who are involved in the preparation and/or review of individual, corporate and business income tax returns or who provide tax planning advice to individuals and businesses.
At least one year of tax return preparation experience.