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Comprehensive Coronavirus Legislation (Course Id 1853)

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Author : Andrew Clark, EA
Status : Production
CPE Credits : 10.0
IRS Credits : 10
Price : $89.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 1853

Description :

The U.S has been met with unprecedented challenges during the Coronavirus pandemic. Over the course of 2020 and 2021, three major spending bills were enacted into law that were meant to provide aid to individuals, companies, and industries that were affected by the various changes and restrictions onset by the Coronavirus pandemic. Those bills were the American Rescue Plan Act, the Consolidated Appropriations Act, and the CARES Act. This course will provide an overview of these three bills that were meant to address the hardships caused by the coronavirus pandemic. This course will also provide a detailed look into the latest bill enacted from the three, the American Rescue Plan Act, and how that bill has affected the wider tax landscape within the U.S.

Usage Rank : 0
Release : 2021
Version : 1.0
Prerequisites : Basic understanding of federal tax code.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 30-Jun-2021
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents - 1853

Keywords : Taxes, Comprehensive, Coronavirus, Legislation, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

At the end of this course, students will be able to:
  • Identify the amount provided via direct deposit for individuals
  • Distinguish the FPUC benefit amount
  • Identify the age of eligibility for the childless Earned Income Tax Credit (EITC)
  • Identify the increase maximum amount for Child Tax Credit
  • Identify the amount of funding allocated to various programs within the Consolidated Appropriations Act.
  • Identify which Division of the Consolidated Appropriations Act is meant to help which industries and individuals.
  • Identify the amount of funding allocated for the various programs within the CARES Act including the Paycheck Protection Program
  • Determine what the different provisions under the CARES Act are designed to perform
  • Identify the maximum amounts of taxpayer income before being phased out of rebates
  • Determine the maximum amount of employees an employer may have before losing employee retention credit capabilities
Course Contents :

Chapter 1 - Comprehensive Coronavirus Legislation

Couse Learning Objectives

Introduction

American Rescue Plan Act of 2021

Key Elements of the American Rescue Plan

Tax provisions

Grants to small businesses

Education funding

Funding for housing

COVID-19 and Healthcare Funding

Transportation provisions

Changes to healthcare

Medicaid and CHIP changes:

State and Local Aid

The Child Tax Credit stimulus changes

New Child Tax Credit 2021 changes

Credit amount increases

New Child Tax Credit change #1: Credit amount increase

New Child Tax Credit change #2: Expanded Credit phaseout

New Child Tax Credit change #3: Credit amounts are refundable

New Child Tax Credit change #4: New advance payments

Offsets and additional information

Part 1 Review Questions

American Rescue Plan Act of 2021 in More Detail

Key elements of the Act

Tax provisions

Grants to small businesses

Education funding

Funding for housing

COVID-19 and Healthcare Funding

Transportation provisions

Changes to healthcare

Medicaid and CHIP changes:

The Child Tax Credit stimulus changes

New Child Tax Credit 2021 changes

Credit amount increases

New Child Tax Credit change #1: Credit amount increase

New Child Tax Credit change #2: Expanded Credit phaseout

New Child Tax Credit change #3: Credit amounts are refundable

New Child Tax Credit change #4: New advance payments

Part 2 Review Questions

Consolidated Appropriations Act – January 2021

Provisions for Coronavirus relief

Regular appropriations

Division A – Agriculture, rural development, FDA

Division B – Commerce, justice, science

Division C – Defense

Division D – Energy and water development

Division E – Financial services, general government

Division F – Homeland security

Division G – Interior, environment

Division H – Labor, health, education

Division I – Legislative branch

Division J – Military construction and veterans affairs

Division K – State and foreign operations

Division L – Transportation, housing and urban development

Other provisions

Healthcare

Tax provisions

Education

Foreign and human rights policy

Energy and environmental provisions

Part 3 Review Questions

CARES Act – March 2020

Division A – High Level Summary

Title I – Keeping American Workers Paid and Employed Act

Title 2 - Assistance for American Workers, Families, and Businesses

Unemployment Assistance Changes

Rebates and Other Individual Provisions

Business Provisions

Title 3 - Supporting America’s Health Care System in the Fight Against Coronavirus

Title 4 - Economic Stabilization and Relief to Severely Distressed Sectors

Title 5 - Coronavirus Relief Funds

Title 6 - Miscellaneous Provisions

Key Knowledge for CPAs

Unemployment Insurance

Individual Stimulus Checks

Keeping Workers Paid and Employed Act

Business Tax Provisions

Individual Tax Provisions

Emergency Lending Fund for Industries

Emergency Aid to State, Local, and Tribal Governments

Division A Outline

Division B Outline

Title I

Title II

Title III

Title V

Title VI

Title VII

Title VIII

Title IX

Title X

Title XI

Title XII

Part 4 Review Questions

Glossary

CPE Taxes Course: https://www.cpethink.com/tax-cpa-courses
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