92120 1.00

Author: Russell W. SullivanHarold HancockNancy StrelauRadha MohanReese Goldsmith

CPE Credit:  1 hour for CPAs
1 hour Federal Tax Law Updates for EAs and OTRPs
1 hour Federal Tax Updates for CTEC

The CARES Act provides assistance to small businesses impacted by the coronavirus: grants, loans, employee benefits, and accelerated tax attributes. Congress did not, however, provide one-size-fits-all eligibility rules. Instead, small businesses must determine whether they are eligible for each provision. This webinar outlines the provisions in the legislation so that you help your clients determine what they are eligible for and how to apply for or claim the benefits.

Publication Date: April 2020

Topics Covered

  • Liquidity Measures:
    • Deferred Employer Payroll Taxes
    • Treasury-Backed Small Business Interruption Loans
  • Employee Retention Programs
    • Deferred Employer Payroll Taxes
    • Treasury-Backed Loans
  • Employee Benefits:
    • Short-Time Compensation Arrangements
    • Paid Sick Leave
    • Paid FMLA
    • Access to Defined Contribution Retirement Funds
    • Exclusion of Employer Payments of Student Loans
  • Accelerated Tax Cuts
    • Carryback of Net Operating Losses
    • Acceleration of Corporate Alternative Minimum Tax Credits
    • Increased Deduction for Interest Expense
    • Accelerated Depreciation of Qualified Improvement Property
    • Other Provisions

 

Learning Objectives

  • Recognize how to understand liquidity measures
  • Identify employee retention strategy
  • Recognize and apply employee benefits for small businesses
  • Identify and master how to accelerate tax cuts from the TCJA
  • Recognize correct statements regarding the Paycheck Protection Program

 

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
Basic understanding of tax preparation.

Advance Preparation
None

Additional Course Details

  • Publisher: Wolters Kluwer
  • Pre-Requisites: None
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