Author : | Danny C Santucci, JD |
Status : | Production |
CPE Credits : | 2.0 |
IRS Credits : | 2 |
Price : | $19.95 |
Passing Score : | 70% |
Course Type: | NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents |
Primary Subject-Field Of Study: | Taxes - Taxes for Course Id 1656 |
Description : | The Families First Coronavirus Response Act was signed by President Trump on March 18, 2020. Later on March 27, 2020, he signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, with a $2.2 trillion price tag. These Acts have been supplemented by pronouncements from the Treasury Department and Internal Revenue Service. These emergency coronavirus provisions are intended to limit the spread of the pandemic, support relief efforts, and stabilize the economy. This course is an overview and summary of tax provisions contained in the above legislation and government pronouncements. It provides a reference to selected individual, business, retirement, employment, filing, and charitable tax provisions adopted. The resulting major tax impact carries special meaning to the tax practitioner and return preparer. The course is intended to be a resource for tax professionals and staff alike to gain easy access to the most important major changes. |
Usage Rank : | 0 |
Release : | 2020 |
Version : | 1.0 |
Prerequisites : | General understanding of federal income taxation. |
Experience Level : | Overview |
Additional Contents : | Complete, no additional material needed. |
Additional Links : |
Coronavirus Tax Relief
|
Advance Preparation : | None. |
Delivery Method : | Self-Study |
Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
Revision Date : | 04-May-2020 |
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 - 1656 |
Keywords : | Taxes, Coronavirus, Tax, Summary, Mini, Course, 2 hour, version, cpe, cpa, online course |
Learning Objectives : |
As a result of studying the assigned materials, you should be able to meet the objectives listed below. ASSIGNMENT
* Families First Coronavirus Response Act paid leave requirements * Modified income tax filing & payment dead-lines * CARES Act tax provisions
2. Recognize the tax provisions of the CARES Act including recovery rebates, above-the-line charitable contributions, deferral of payroll tax, business loan forgiveness, employee retention credits, remote medical services, and unemployment benefits. |
Course Contents : | Chapter 1 - Coronavirus Tax Summary High-Deductible Health Plans (3/11/20) Families First Coronavirus Response Act Employee Paid Sick, Family & Medical Leave Employer Tax Credits Paid Sick Leave (EPSLA) Credit Paid Family & Medical (EMFLEA) Credit Payment for the Cost of Providing Leave Self-Employed Individuals Small Business Exemption Effective Date Federal Gift & GST Tax Filing & Payment Deadline (3/20/20) Income Tax Filing & Payment Deadline (3/20-21/20) Coronavirus Aid, Relief, and Economic Security (CARES) Act Recovery Rebate/Credit (Economic Impact Payments) Eligibility Identification Number Backward Calculation Advance Refund Noticing Requirement Phaseout Retirement Funds - Early Withdrawal Tax & Loan Limits Distributions & 10% Penalty Coronavirus Related Distribution Repayments of Coronavirus-Related Distributions Loan Limits Temporary Waiver of RMD Rules Application Charitable Deductions $300 Above-the-Line Charitable Deduction Qualified Charitable Contribution Individual Cash Contribution Limit During 2020 Qualified Contributions Corporate Cash Contribution Limit During 2020 Contribution Of Food Inventory During 2020 Repayment of Employee Student Loans Eligible Student Loan Repayments Employee Retention Payroll Tax Credit Penalty Relief Eligible Employers Household Employers Self-Employed Individuals Partial Business Suspension Reduction in Quarterly Gross Receipts Wages Employers With Less Than 100 Employees Employers With More Than 100 Employees Refundable Credit Employer Payroll Tax Delay Applicable Date Estimated Payments Net Operating Losses Loss Limitation For Noncorporate Taxpayers Business Interest Limitation Qualified Improvement Property Paycheck Protection Program & Loan Forgiveness Who Can Apply? Eligible Debt Forgiveness Definitions Unemployment Benefits Advancing of Credits for Paid Sick & Family Leave High Deductible Health Plans & Telehealth Services Section 1031 & Rollover Periods Glossary |