American Rescue Plan Act of 2021 Key Measures & Insights - March 25, 2021

Mike D’Avolio, CPA, and Robin Gervais, EA, provide a review and give insights around key aspects of the recently passed American Rescue Plan Act of 2021.  The new legislation delivers another 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 2021 tax return

·       Additional federal unemployment insurance measures and impact to 2020 tax returns 

·       Adjustments to the Paycheck Protection Program

·       Economic Injury Disaster Loan (EIDL)

·       Extension of the Employee Retention Credit

·       Individual Tax Provisions, including changes to the Child Tax Credit, Earned Income Credit, Dependent Care Credit and Premium Tax Credit for tax year 2021

·       Business Tax Provisions, including employer provided dependent care assistance and credits for paid sick and family leave

 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-00135-21-O

In Person: NESGF-U-00135-21-I