This insightful course offers tax professionals a thorough summary of the key tax provisions resulting from the Families First Coronavirus Response Act and the CARES Act. By participating in this course, attendees will gain a clear understanding of a range of critical topics, including Health Savings Account (HSA) payments, the intricacies of payroll tax credits under the FFCRA, and the revised tax filing and payment deadlines. The course also delves into the complex tax provisions of the CARES, CAA, and ARPA Acts, shedding light on recovery rebates, charitable contribution deductions, payroll tax deferrals, and the specifics of loan forgiveness and employee retention credits. Participants will emerge with a solid grasp of these legislative changes, enabling them to provide informed advice on a variety of issues such as remote medical services, business loss adjustments, COBRA, and unemployment benefits. This course is particularly beneficial for professionals seeking to update their knowledge base to offer accurate and timely tax advice in the context of the pandemic's far-reaching economic impacts.
Learning Objectives
Upon successful completion of this course, 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, CAA & 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.
Major Topics
Coronavirus Tax Summary
Consolidated Appropriations Act
American Rescue Plan Act