American Rescue Plan Act of 2021 (Completed)

Date: Wednesday, March 31, 2021
Instructor: Annette Nellen
Begin Time:  11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time
CPE Credit:  1 hour for CPAs
1 hour Federal Tax Law Updates for EAs and OTRPs
1 hour Federal Tax Updates for CTEC

The latest round of COVID-19 relief includes several tax changes and is expected to be enacted this month (March). Key changes include a third round of economic impact payments and increases to the child, dependent and earned income tax credits. Additional changes address health care and the employee retention credit.

Who Should Attend
Practitioners who want to consider the effect of the American Rescue Plan Act changes on 2021 estimated taxes and tax planning.

Topics Covered

  • The size and eligibility rules for the 2021 recovery rebates for individuals
  • The expanded child, dependent care and earned income tax credits
  • Changes to employer payroll credits as relevant to both employers and employees
  • Improvements to the Premium Tax Credit

Learning Objectives

  • Identify 2021 law changes of the American Rescue Plan and the relevance to compliance and planning
  • Identify who is eligible for the 2021 recovery credit
  • Recognize how to explain key tax benefits of the American Rescue Plan and their effective dates

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
Basic understanding of tax preparation.

Advance Preparation
None

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