Advising tax clients in 2021 is particularly challenging because tax changes have come fast and furious over the past two years. It is hard to know, particularly after a tax season that never seems to end, which legislative changes are still applicable, which no longer apply, and which are only proposed. This program will enable practitioners to understand the tax changes that impact their clients in 2021, the changes that have expired for this year, and the ones that are currently proposed and may impact 2021 if enacted this year.
DESIGNED FOR
Tax practitioners who anticipate advising clients and preparing 2021 tax returns
BENEFITS
- Tax changes included in the American Families Plan that could, if enacted, impact 2021
- Changes from the American Rescue Plan Act of 2021 that will impact 2021
- Employer credits for paid sick and family leave in 2021
- Small Business Administration programs for distressed businesses, including the latest on PPP loans and Restaurant Revitalization Grants
- The Employee Retention Tax Credit for 2021 and its interaction with the PPP loan program
- COBRA continuation coverage and other changes in health care benefits in 2021
- Net operating loss rules for 2021
- Other individual and business-related tax changes, enacted and proposed
HIGHLIGHTS
- Understand tax changes that will, or potentially can, impact 2021 transactions
COURSE LEVEL
Update
PREREQUISITES
A basic understanding of the tax rules relating to individual income tax