COVID-19 Part I: Federal and State Tax Law Responses to the Pandemic

Author: Mark S. Klein, William S. Turkovich, James M. Bandoblu, Jr., Hodgson Russ LLP

CPE Credit:  2 hours for CPAs

In response to the COVID-19 pandemic, federal legislation was enacted to address financial stability and liquidity issues, in part, through various, and mostly temporary, federal tax law changes. Several of the temporary changes suspend or alter some of the provisions from the TCJA. Knowing how these federal tax law changes impact your clients and your business is crucial.

In this course, we will cover federal tax legislation, including the CARES Act, related IRS guidance, and other IRS procedural considerations during the pandemic. We will also address specific state responses, including those that confirm federal changes that “flow through” to state taxes, or specific state measures to address the crisis.

Publication Date: May 2020

Designed For
CPAs and attorneys looking to advise their business clients with up-to-date information; individuals with payroll and personnel responsibilities in their companies.

Topics Covered

  • Federal and state tax law changes impacting individuals & businesses
  • IRS procedural considerations during the pandemic
  • New York procedural considerations during the pandemic

Learning Objectives

  • Recognize and apply a practical understanding of the federal tax law changes enacted in response to the COVID-19 pandemic
  • Identify how the federal and state tax law changes impact your clients and your business
  • Identify IRS procedural considerations related to IRS operations during the COVID-19 pandemic
  • Identify state-specific tax considerations that may impact individuals and businesses

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of tax preparation

Advance Preparation
None

Registration Options
Quantity
Fees
Regular Fee $59.00

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