The country is facing an unprecedented health and economic emergency due to COVID-19. Because time is of the essence this webcast provides Partnerships, Non-Profits, Practices, and Other Organizations as well as CPA’s with plain English guidance to help access recently released federal grants and loans under the March 27, 2020 CARES ACT. Many of these provisions, including available grants that you do not have to repay, are on a first-come basis.
Publication Date: May 2020
Topics Covered
- Selecting the proper CARES Act provisions that apply to your organization
- Registration and Application Tips
- Best practices to ensure CARES Act success in obtaining relief
- Additional guidance on how to get help and latest updates and changes in the law
Learning Objectives
- Identify federal programs that can get your organization money in as little as three days to meet payroll, pay rent, mortgages, pay vendors and service providers that otherwise cannot be paid, and how to meet more such obligations exacerbated by loss of revenue
- Recognize how to respond when time is of the essence
- Identify strategies to prepare for a first-come-first-serve application process that includes the availability of non-resource grants (meaning you do not have to pay money received from the federal government back) that your organization can access under relief provided by the new law
- Recognize how to avoid fines and what requirement you need to meet to submit a valid claim
- Describe best practices for documenting need and establishing reasonable cause for your financial assistance requests
- Recognize what forms you need to file to access governmental assistance and how to file them
- Identify steps you can take to protect your organization or clients during these difficult times and help assist its survival using federally available funds
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
Basic understanding of tax preparation.
Advance Preparation
None
Instructor
Steven D. Mercatante
Steven Mercatante is the principal and founder of TIR Consulting, LLC. He is a nationally recognized leader in tax reporting education and consulting on specialized compliance issues. He has conducted on-site consultation for corporate clients from across the world and led countless seminars and webinars for Convey Compliance Systems, IAPP, Balance Consulting, The Accounts Payable Network, Accounts Payable Now and Tomorrow, Progressive Business Conferences, The Center for Competitive Management, and more.
He is also a published author, with numerous articles published on tax and financial law, and he has authored and published a series of tax guides on topics such as: W-9/1099 & W-8/1042-S compliance and reporting, payment cards, U.S. State & Local Reporting, worker compensation issues, international tax compliance, and more.