IRS Coronavirus Tax Summary

IRS Coronavirus Tax Summary
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Price: $39.99
Credits: 3.0
Prerequisite: Overview
Level: Basic
Model: YJ2ER-T-00264-23-S
Author: Danny Santucci
Average Rating: Not Rated
Fields of study: Taxes
Format: PDF


This course is specifically for Enrolled Agents that need to report to the IRS.

The Families First Coronavirus Response Act was signed by President Trump on March 18, 2020. Later on March 27, 2020, he signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act,  with a $2.2 trillion price tag. These Acts have been supplemented by pronouncements from the Treasury Department and Internal Revenue Service. These emergency coronavirus provisions are intended to limit the spread of the pandemic, support relief efforts, and stabilize the economy.
This course is an overview and summary of tax provisions contained in the above legislation and government pronouncements. It provides a reference to selected individual, business, retirement, employment, filing, and charitable tax provisions adopted. The resulting major tax impact carries special meaning to the tax practitioner and return preparer. The course is intended to be a resource for tax professionals and staff alike to gain easy access to the most important major changes.

Learning Objectives
As a result of studying the assigned materials, you should be able to meet the objectives listed below.
At the start of the materials, participants should identify the following topics for study:
  Related Treasury & IRS notices and pronouncements
  Families First Coronavirus Response Act paid leave requirements
  Modified income tax filing & payment deadlines
  CARES & ARPA Act tax provisions
 
After reading the materials, participants will be able to:
 Identify permissible HSA payments, allowable FFCRA payroll tax credits and paid leave, postponement of tax filing and payment deadlines, the Stafford Act.
 Recognize the tax provisions of the CARES & ARPA Acts including recovery rebates, above-the-line charitable contributions, deferral of payroll tax, loan forgiveness, employee retention credits, remote medical services, business losses, COBRA, and unemployment benefits.

Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless otherwise indicated, no correct or incorrect feedback for any exam question will be provided.
Course Level: Overview. This program is appropriate for professionals at all organizational levels.
Field of Study: Taxes
Prerequisite: General understanding of federal income taxation.
Advanced Preparation: None

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
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