The American Rescue Plan Act made many changes for individuals and 2020 COVID-19 legislative changes continue to affect 2021 returns. Changes affecting individual tax compliance and planning, including charitable contributions, passive activity losses, and various grants will be explained. IRS guidance and state tax changes affecting the SALT deduction for partners and S corp shareholders are covered. Highlights of changes to individual tax forms for 2021 are described. Finally, tax reform proposals are covered. Planning and due diligence reminders are addressed throughout this 4-hour federal individual tax update.
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (4 hours)
Program PrerequisitesBasic understanding of tax preparation.