COVID Related Tax Relief Act of 2021

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COURSE DESCRIPTION

This course will discuss the new tax provisions related to Economic Disaster Relief, Paycheck Protection Programs, and Forgiveness as well as the Employee Retention Credit.

Topics include:

• Loans and Grants
• PPP Loan Forgiveness
• Taxation of Loans and Grants
• Expense Restrictions of PPP Loans Forgiveness
• Casualty Loss Update

Learning Objectives:

After reading the course material, you will be able to:

• Review the funding options provided under the CARES Act
• Differentiate between the loans and grants
• Discuss the loan forgiveness process
• Determine the taxation of loans and grants
• Understand the restrictions on expenses of the loans and the impact on Partner/Shareholder Basis
• Discuss changes to Employee Retention Credit under the COVID-related Tax Relief Act of 2020
• Review changes in Casualty Loss Rules

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships: