2020 Tax Legislation Economy vs. Pandemic: How Congress Continues to Respond (Half-Day Webinar) (Completed)

Date: Thursday, September 10, 2020
Instructor: Bradley Burnett
Begin Time:  8:00am Pacific Time
9:00am Mountain Time
10:00am Central Time
11:00am Eastern Time
CPE Credit:  4 hours for CPAs
4 hours Federal Tax Law Updates for EAs and OTRPs
4 hours Federal Tax Updates for CTEC

Covid strikes the U.S. economy. Congress strikes back giving away tax breaks and other money by the bushel baskets. Covid hits again. Congress strikes back. Treasury, SBA and IRS weigh in. The result? Chaos on top of chaos like we’ve never seen. And, it keeps coming.

Layer upon layer upon yet more layers. How to sort it all out, choose well and move forward? We’ve knocked it down for you.

Who Should Attend
Return preparers, tax planners and taxpayers desiring to keep up with Covid pandemic related late breaking federal tax developments.

Topics Covered

  • Economic stimulus payments of various shapes and sizes
  • The undoing, modification and reversal of various TCJA loss limitation rules
  • How the revamped NOL rules can really toss you into the swamp
  • PPP loan outbreak and how it affects income taxes
  • Qualified improvement property (QIP) gets a high maintenance retroactive fix
  • Why the revamped §163(j) business interest expense rules cannot be ignored by anyone ever
  • IRA and retirement plan draws and plan loans turned upside down on their heads
  • Medical reimbursement plans will never be the same again
  • Employment taxes become busy like a swarm of bees
  • CARE Act jumbles up §461(l) excess business loss rules retroactively
  • The next round of relief and the next and the next

Learning Objectives

  • Identify tax related money Congress is throwing at the pandemic
  • Describe Economic stimulus payments
  • Recognize the reversal of various TCJA loss limitation rules

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
Basic understanding of tax preparation.

Advance Preparation
None

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