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Thursday, January 14, 2021 Webcast

PPP Round Two and Other Year-End Tax Developments with Ed Zollars (E2101402)

1:00 PM - 5:00 PM EST

Registration: 12:30 PM EST

Webcast


Webcast , NJ

4.0 CPE Credits in TX

OVERVIEW

Congress has yet again passed new legislation just before adjourning for the year, this time creating a brand new version of the Paycheck Protection Program loans, qualifying some businesses to obtain a second forgivable loan. As well, another set of checks will be sent out to qualifying taxpayers under the recovery rebate program, though this time in a reduced amount. Attend this course to get up to speed on what has changed so you can advise clients on the impact of these issues, as well as ready yourself for handling this issues on 2020 income tax returns.

 

DESIGNED FOR

Tax, accounting, financial professionals who want up-to-date information on the paycheck protection program (PPP) and other 2020 year-end tax developments.

BENEFITS

  • Assist clients applying for forgiveness of the first round PPP loans
  • Explain to clients the eligibility requirements for the second round PPP loans, and changes in how the program operates
  • Advise clients on how the second round of payments to taxpayers under the recovery rebate program applies in their case
  • Understand other provisions contained in the tax law passed at the end of 2020 by Congress

HIGHLIGHTS

  • Modifications made to the original paycheck protection program loan program including the: o New streamlined forgiveness application for loans of $150,000 or less o Full deductibility of expenses paid with PPP loan funds
  • Details on the new program to allow certain small businesses to receive a second forgivable PPP loan including o What businesses are eligible to receive these loans, including how to calculate the revenue loss test o Applicability of the new program to small §501(c)(6) organizations o Expansion of types of forgivable expenses paid with PPP funds
  • Requirements to receive a check in the second round of recovery rebate payments
  • Temporary full deduction for business meals in 2021 and 2022
  • Extenders included in the year end bill
  • Other tax developments taking place since November

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTOR

Edward Zollars

Edward K. Zollars, CPA

Tax and Technology Partner

Thomas Zollars & Lynch, Ltd.

Edward K. Zollars, CPA, is a partner with the firm of Thomas, Zollars & Lynch, Ltd, in Phoenix, Arizona. He specializes in tax issues for closely held businesses and individuals. He has served on committees with the AICPA Tax Section and currently serves on the Arizona Society of CPAs legislative tax liaison committee. Ed has published tax podcasts on tax matters and is currently producing the weekly audio and video for the Current Federal Tax Developments podcast on current tax matters for Kaplan Financial Education and the related blog with regular tax updates throughout the week. Along with writing, editing and presenting courses for the past 14 years, Ed has written articles published in Practical Tax Strategies and The Tax Adviser. He is a frequent contributor to a number of online professional tax discussion groups, including the NJCPA Member Open Forum.

PRICING

$99.00 - Member

$149.00 - Nonmember

Pre-Registration Closed

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