Among several tax changes in the Families First Coronavirus Response Act (FFCRA) and CARES Act are a few providing employment tax relief for many employers and self-employed individuals. This webinar explains the paid leave credits of the FFCRA and the employee retention payroll tax credit and the delay for depositing payroll and self-employment taxes. These rules interact with other credits and tax rules as well. Examples, documentation and planning considerations are also covered.
Publication Date: June 2020
Topics Covered
- COVID-19 Legislative and Administrative Overview
- Payroll tax relief in FFCRA and CARES Acts
- Paid leave credits — employers and self-employed
- Employee retention payroll tax credit
- Delay for payment of employment taxes for employers and self-employed individuals
- Relevance to other provisions
- Examples, documentation, open issues and planning considerations throughout
Learning Objectives
- Identify employment tax relief for employers and self-employed individuals in the FFCRA and CARES Acts
- Compute the employee retention credit with and without the employer OASDI tax deferral provision
- Recognize how the payroll/self-employment tax relief interacts with other COVID-19 and general tax provisions
- Recognize true statements regarding the employee retention credit (ERC)
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
A basic understanding of tax preparation.
Advance Preparation
None
Instructor
Annette Nellen
Annette Nellen, CPA, CGMA, Esq., is a professor in and director of San Jose State University's graduate tax program (MST), teaching courses in tax research, accounting methods, property transactions, advanced individual taxation, employment tax, ethics, leadership, and tax policy.
Annette chairs the AICPA Digital Assets Tax Task Force and serves on the AICPA Disaster Relief Tax Task Force. She formerly served on the AICPA Tax Executive Committee, including 2.5 years as chair. She was the lead author of the AICPA tax policy concept statement #1, Guiding Principles of Good Tax Policy: A Framework for Evaluating Tax Proposals (2001, updated 2017), still in use today. Annette is also active with the tax sections of the ABA, CalCPA and California Lawyers Association. Annette is the recipient of the 2013 Arthur J. Dixon Memorial Award given by the Tax Division of the AICPA, the highest award given by the accounting profession in the area of taxation. In 2019, Annette was the recipient of the CLA’s Benjamin F. Miller Award for outstanding achievement and contribution in the field of state and local taxation law. Annette was included in Accounting Today's 2024 List of the Most Influential People in Accounting.
Annette is a regular contributor to Tax Notes State, authoring a column called Moving Forward? She is the author of Bloomberg BNA Tax Portfolio #533, Amortization of Intangibles. She is co-author and co-editor of four tax textbooks from Cengage. Annette has testified before the House Ways & Means Committee, Senate Finance Committee, California Assembly Revenue & Taxation Committee, and tax reform commissions and committees on various aspects of federal and state tax reform. She maintains the 21st Century Taxation website and blog (www.21stcenturytaxation.com). Prior to joining SJSU in 1990, Annette was with Ernst & Young and the IRS.