2021 Business Federal Tax Update: Part 2 (Half-Day Webinar) (Completed)

Date: Wednesday, November 24, 2021
Instructor: Greg White
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

If last year was action packed, this year promises to be even more so. Join expert, Greg White, CPA, as he provides an update on the recent changes you need to navigate through the maze of tax legislation and cases that affect business clients.

Topics Covered

  • What impact will hiring "remote" employees have on your clients who employ the remote workers?
  • The CPAR audit provisions for partnerships
    • Why most eligible partnerships are making a big mistake by not electing out of this system
  • Review of business provisions in proposed Build Back Better Act
    • Will the corporate alternative minimum tax affect your clients?
  • Big changes to the employee retention credit
    • American Rescue Plan Act extension
    • Infrastructure Investment and Jobs Act (signed into law November 15, 2021)
    • New guidance on eligibility of majority shareholder wages for the retention credit
  • New IRS audit campaign for sales of businesses
  • Tax Court denies research credit to a clothing designer
    • And the IRS increases scrutiny of all research credit refund claims
  • IRS expands taxpayer ability to rely on Frequently Asked Questions on irs.gov website

Learning Objectives

  • Identify taxpayers who qualify for the retention credit
  • Identify and calculate the Families First credit for self-employed taxpayers
  • Recognize who can elect out of the CPAR audit rules for partnership (and why many partnerships are making a mistake by not electing out)
  • Identify tax issues of employers who have "remote" workers


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
Basic understanding of federal income taxation concepts.

Advance Preparation

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