Among many tax changes in the Families First Coronavirus Response Act (FFCRA) and CARES Act are a few providing employment tax relief for many employers and some for self-employed individuals. This webinar explains the basics of the paid leave credits of the FFCRA and the employee retention payroll tax credit and payroll tax deferral of the CARES Act. The payroll tax deferral of the August 8 presidential memo is also covered. Interaction of these provisions with other rules, as well as documentation requirements, reporting and open issues are addressed. Examples and planning considerations are addressed throughout. Possible future changes are also presented.
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program PrerequisitesA basic understanding of tax preparation.