COVID-19 Relief Package – Key Measures & Insights - January 15, 2021

Mike D’Avolio, CPA, and Robin Gervais, EA, provide a review and give insights around key aspects of the recently passed COVID-19 Relief Package.  The new legislation delivers a second round of economic stimulus for individuals, families, and businesses.  The new law gives relief through multiple measures and expands many of the provisions already put into place under the CARES Act.

 After attending the session, tax professionals will be able to confidently communicate the changes to their clients to take advantage of the new law.

 Learning objectives:

By completing this course, you will learn about the following aspects of the new legislation and how to advise your clients accordingly:

·       Additional round of Economic Impact Payments (EIP) and how the payments are reconciled on the tax year 2020 tax return

·       Additional federal unemployment insurance measures 

·       Adjustments to the Paycheck Protection Programs

·       Economic Injury Disaster Loan (EIDL) Advance Program

·       Extension of the Employee Retention Credit

·       Special lookback for the Earned Income Credit and Child Tax Credit

·       Eviction moratorium and rental assistance

·       Miscellaneous provisions, such as increasing the deduction for business meal and beverage expenses from 50% to 100%

·       Extender provisions, such as making the 7.5% adjusted gross income threshold for medical expenses permanent.

 

Who should attend?

Anyone who prepares tax returns and advises clients

 Course Level: Basic 

Course Length:  60 Minutes

Prerequisites:  NONE 

Delivery Method: Group-Live Internet

Field of Study: Taxes - Technical

Recommended CPE: 1

Recommended CE: 1

 IRS Category: Federal Tax Law Update

Online: NESGF-U-00134-20-O

In Person: NESGF-U-00134-20-I