Tax Update in the COVID19 World and in the December 2020 Consolidated Appropriations Act
Credit Hours: 3
Category: Federal Tax Law Update
Requires Prerequisites or Advanced Preparation: No
Delivery Method: Video
Instructor: Eva Rosenberg, EA, CTC, CTRS
This has been a crazy tax year, with IRS shut-downs, COVID19 business closures and job losses, and a new tax laws being passed every time you blink - several, over-riding previous laws passed during the year. This course is designed to help you make some sense of the laws that affect 2020 - and to help you do planning with your clients for 2021.
This course will cover the following learning objectives:
- Review a summary of 2020 legislation
- The 2020 deductions, credits and limits - for preparation of the 2020 tax returns
- The available 2021 deductions, credits and limits - for 2021 tax planning
- The difference between the SBA loans and forgiveness provisions.
- IRS curtailed operations during this pandemic