April 10, 2020

Webcast

4 CPE

Don Farmer: Review of Recent Tax Legislation and IRS Tax Relief due to COVID-19

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    Instructor

    Don
    Farmer

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    Don Farmer

    Bio

    Don Farmer is the President of Don Farmer, CPA, PA.  Don was formerly a Tax Partner with Deloitte & Touche in charge of the tax practice for their five Western North Carolina offices.  In 1984, he resigned his position as Partner and created Don Farmer, CPA, PA in order to devote most of his time to writing and lecturing. He also consults with other CPAs around the country concerning tax matters.  Each year, Don writes and presents many CPE programs across the United States. He has made presentations in over forty states.  Don has also contributed articles to nationally known tax magazines.

During this 4-hour presentation Don will review the massive changes affecting practitioners and their clients in response to the Coronavirus (COVID-19). The purpose of this webinar is to help practitioners get their arms around the various tax benefits (including tax refunds from prior years) and obligations contained in recent legislation, and IRS releases.

Learning Objectives

  • IRS’s new People First initiative which
    1) Postpones a long list of tax-related deadlines from
    April 15, 2020 to July 15, 2020, including the effect of this postponement on other time sensitive acts,
    and
    2) Postpones numerous enforcement actions until July 15, 2020.
  • CARES Act (Coronavirus Aid, Relief, and Economic Security Act, H.R. 748) signed into law on
    March 27, 2020 which includes: Rebates for Individuals; Employee Retention Credits for certain
    employers experiencing economic hardship due to the Coronavirus pandemic; Penalty Relief for
    Coronavirus-related distributions from retirement plans; Delay of RMDs; Increased deduction limits for
    charitable contributions; Retroactive NOL carrybacks; Delay of employer payroll tax payments;
    Retroactive delay of the Excess Loss Limitation for individuals; Retroactive acceleration of refundable
    corporate AMT credits; Increased deduction limits for business interest expense; Qualified
    Improvement Property fix; Limited income exclusion for employer payments on employee student
    loans; and more.
  • Families First Coronavirus Response Act (H.R. 6201) enacted on March 18, 2020 that:
    Requires employers with fewer than 500 employees to make Qualified Sick Leave Payments and
    Qualified Family Leave Payments for a range of employees who cannot work because of the
    Coronavirus; Provides Offsetting refundable payroll tax credits for employers that make these
    payments; and Provides refundable tax credits for Self-Employed individuals who cannot work
    because of the Coronavirus.

CPE Credits Available

4 CPE
4
Taxes

Things to Know About This Course

Course Level

  • Update

Prerequisites

None

Intended Audience

Those interested in tax legislation and tax relief updates.

Provider

Don Farmer, CPA PA

This event has ended.