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(2705685) Tax Effects of Coronavirus (Covid-19) and CARES Act
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The Coronavirus has wreaked economic havoc and Congress, as well as the IRS, have needed to act swiftly with regards to tax laws. As of March 28, 2020, President Donald Trump signed the CARES (Coronavirus Aid, Relief, and Economic Security) Act. This course will discuss the tax and liquidity planning in response to the CARES Act. The IRS has postponed some deadlines, but not all. You will be equipped with navigating the many questions surrounding the deferral of 2019 tax payments. Additionally,

4/6/2020
When: 04/06/2020
12:00 pm
Where: Webcast
CPE
2705685
United States
Presenter: Bradley Burnett, J.D., LL.M., Arthur Werner


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Acronym 2705684
CPE 3
Vendor ACPEN
Category
Taxes - Technical
Level Update
Yellow Book? No
Registration Fees
Members* $99
Non-Members $129

*The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801-466-8022, Monday through Friday, 8am to 4pm.

Course Description

The Coronavirus has wreaked economic havoc and Congress, as well as the IRS, have needed to act swiftly with regards to tax laws. As of March 28, 2020, President Donald Trump signed the CARES (Coronavirus Aid, Relief, and Economic Security) Act. This course will discuss the tax and liquidity planning in response to the CARES Act. The IRS has postponed some deadlines, but not all. You will be equipped with navigating the many questions surrounding the deferral of 2019 tax payments. Additionally, a Families First Act has been signed, providing a stimulus package for those affected financially by the Covid-19 pandemic. This course will detail the IRS’s rapidly changing approach to collections, statute of limitation protections, and operations. By the end of this course, you will know how these new and sudden changes affect your clients and enable you to answer the many questions they may have as a result of these changes.

Because the details surrounding the Coronavirus are uncertain, the legislation is ever-changing. The information in this course is intended to provide information on new legislation that has been put in place up until this point. As any potential major changes occur, those who take this program will be kept up to date.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com. 

Objectives

Explain the Stafford Act Emergency Declaration
Interpret the Families First Coronavirus Response Act
Discuss the CARES Act
Discuss and interpret details surrounding the Tax Payment and Tax Filing Reliefs 

 

Major Topics

Survival cashflow in time of crisis: SBA loans, employee retention credit or payroll tax deferral?
Payroll Protection Program Loans - Cash flow and tax heaven - Act fast or goodbye - Accountants desperately needed
Tax credits for paid sick and family leave – Deep cut knowledge needed here  
Waiver of penalties both inside and outside of a box  
Stafford Act Emergency Declaration
IRS Notice 2020-17 – Tax Payment Relief
IRS Notice 2020-18 – Tax Filing Relief
Filing and Payment Deadline IRS FAQ
Families First Coronavirus Response Act
CARES Act
Cyber security mandates / IRS sanctioned protocols for working from home
Tax planning in catastrophic economic times 

Designed For: CPAs, EAs, and financial professionals

Prerequisite: None

Note: Login instructions will be provided by the webcast vendor.

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