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Event Detail

COVID-19: Tax Related Developments - Part 2 (CARES ACT)

Description:

In response to the COVID-19 economic emergency, the Senate was quick to respond by passing the $2 trillion bill intended to provide relief to Americans affected by the pandemic and the economy. This Part II presentation of the COVID-19 tax series provides a detailed discussion of the Coronavirus Aid, Relief and Economic Security (CARES) Act.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights:

  • Recovery rebates - advance refunds to individuals
  • Payroll tax advance refunds and payroll tax delays
  • Employee retention credit
  • Retirement plan distributions
  • Charitable deductions
  • Net operating loss deductions
  • Repeal of excess loss limitations
  • Immediate write-offs for depreciable real estate
  • Refundable corporate AMT credits
  • Health plan changes
  • Other provisions in the legislation and IRS pronouncements related to these developments

Objectives:

Upon completion of this course, you will be able to:

  • Understand and apply the latest tax developments as they relate to the COVID-19 relief legislation.
  • Advise both individual and business clients on how these new developments will impact their 2019 and 2020 returns.

Prerequisites:

Basic working knowledge of federal taxation for businesses and individuals

Designed For:

CPAs working in public practice and members in industry

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