Don Farmer: Review of Recent Tax Legislation and IRS Tax Relief due to COVID-19

Description

During this 4-hour presentation Don will review the massive changes affecting practitioners and their clients in response to the Coronavirus (COVID-19). The purpose of this webinar is to help practitioners get their arms around the various tax benefits (including tax refunds from prior years) and obligations contained in recent legislation, and IRS releases.

Learning Objectives
  • IRS’s new People First initiative which
    1) Postpones a long list of tax-related deadlines from
    April 15, 2020 to July 15, 2020, including the effect of this postponement on other time sensitive acts,
    and
    2) Postpones numerous enforcement actions until July 15, 2020.
  • CARES Act (Coronavirus Aid, Relief, and Economic Security Act, H.R. 748) signed into law on
    March 27, 2020 which includes: Rebates for Individuals; Employee Retention Credits for certain
    employers experiencing economic hardship due to the Coronavirus pandemic; Penalty Relief for
    Coronavirus-related distributions from retirement plans; Delay of RMDs; Increased deduction limits for
    charitable contributions; Retroactive NOL carrybacks; Delay of employer payroll tax payments;
    Retroactive delay of the Excess Loss Limitation for individuals; Retroactive acceleration of refundable
    corporate AMT credits; Increased deduction limits for business interest expense; Qualified
    Improvement Property fix; Limited income exclusion for employer payments on employee student
    loans; and more.
  • Families First Coronavirus Response Act (H.R. 6201) enacted on March 18, 2020 that:
    Requires employers with fewer than 500 employees to make Qualified Sick Leave Payments and
    Qualified Family Leave Payments for a range of employees who cannot work because of the
    Coronavirus; Provides Offsetting refundable payroll tax credits for employers that make these
    payments; and Provides refundable tax credits for Self-Employed individuals who cannot work
    because of the Coronavirus.
Provider
Don Farmer, CPA PA
Course Level
Update
CPE Field of Study
Taxes
4
Who Should Attend

Those interested in tax legislation and tax relief updates.

Instructor(s)
Don Farmer
Prerequisites

None

Location
Webcast
Register Now
When
Apr 10, 2020
8:30 am - 12:30 pm MDT
Location
Webcast
Total CPE Credits
4
Format
Webcast
Instructor
Don Farmer

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Don Farmer: Review of Recent Tax Legislation and IRS Tax Relief due to COVID-19


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