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This program addresses the many business and individual tax provisions from the CARES Act and subsequent legislation and their impact on the CPA practice in a world of crisis. Actual practice situations are used to explain the unique reporting and planning challenges facing practitioners, and then analyzed for their reporting implications.

NOTE: This program does not cover payroll and loan reporting provisions.

Learning Objectives: To provide an exploration of numerous practice situations occasioned by the business and individual tax provisions in recent COVID-19 related legislation.

Program Content:

  • "Real-life" examples and practice issues CPAs are dealing with in these extraordinary times.
  • Review and update of NOL, business interest limitations, and depreciation changes in recent legislation.
  • Review and update of postponed tax returns and payments.
  • Review and update of rebate provisions.
  • Review and update of retirement and numerous other individual provisions in recent legislation.
  • Planning for extended return and payment due date.

Who should attend: CPAs in public practice seeking an update on the latest COVID-19 tax developments affecting both business and individual taxpayers.

Program Level: Intermediate

Developed By: Federal Tax Workshops, Inc

Instructor: Steven C. Dilley, CPA, JD, PhD

CPE Credit: 2 hours

Field of Study: Taxes

Prerequisites: Basic working knowledge of business and individual taxation.

Advanced Preparation: None

 

Steven C. Dilley, CPA, JD, PhD

Steve is President of Federal Tax Workshops, Inc., where for over 40 years, he has developed and presented continuing education seminars and webinars on tax, accounting and ethics topics for accountants and attorneys throughout the country. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business and has published numerous articles on these topics.

In addition, Steve is a Professor Emeritus of Accounting at Michigan State University, East Lansing, where he taught tax accounting. He has been received the “Distinguished Achievement in Accounting Education Award” in Michigan, as well as the MSU Accounting and Information Systems Department Outstanding Teacher Award.