Top Federal Tax Issues for 2021 CPE Course: Module 4 (Currently Unavailable)
Author: Klaralee R. Charlton
| CPE Credit: |
3 hours for CPAs
3 hours Federal Tax Related for EAs and OTRPs
3 hours Federal Tax Law for CTEC |
Top Federal Tax Issues Course Module 4 discusses the changes to retirement plans made by Congress and the IRS shortly before 2020 and later in response to the COVID-19 pandemic. It outlines the changes implemented by the SECURE Act and CARES Act and is designed to give tax practitioners a new perspective on old retirement plan rules to better guide their clients during this uncertain time.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: October 2020
Designed For
CPAs, Tax Professionals
Topics Covered
- Legislative history of the SECURE Act and CARES Act
- Retirement plan contribution limits
- Retirement plan withdrawal changes
- Retirement plan loan changes and repayment rules
- Retirement plan amendments for employers
- Employer use of Paycheck Protection Program funds for retirement plans
- Withdrawal options for retirement plan beneficiaries
- Waiver of 2020 required minimum distributions
- Repayment of withdrawn RMDs
- Estate planning with retirement accounts
- Recommendations for employees and employers
Learning Objectives
- Describe the efforts by Congress and the IRS in response to the COVID-19 pandemic
- Describe the retirement distribution changes implemented by the SECURE Act and CARES Act
- Recognize and analyze the options available to employees to use retirement funds for current liquidity needs
- Recognize recommended plan changes to employer retirement plans based on shrinking revenue and employee reductions
- Identify the impact of using government loan proceeds to contribute to retirement plans
- Recommend estate planning techniques to achieve client goals in light of modified withdrawal options
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (3 hours)
Program Prerequisites
None
Advance Preparation
None
