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Tax Effects of Coronavirus (COVID‐19) and CARES Act

Description


Since the filming of this session on March 29th Congress has passed additional legislation. The Werner-Rocca team is filming another program to address these additions that should be available in the coming week. Please note, this session does not have a scheduled break..

The Coronavirus has wreaked economic havoc and Congress, as well as the IRS, have needed to act swiftly with regards to tax laws. As of March 28, 2020, President Donald Trump signed the CARES (Coronavirus Aid, Relief, and Economic Security) Act. This course will discuss the tax and liquidity planning in response to the CARES Act. The IRS has postponed some deadlines, but not all. You will be equipped with navigating the many questions surrounding the deferral of 2019 tax payments. Additionally, a Families First Act has been signed, providing a stimulus package for those affected financially by the Covid‐19 pandemic. This course will detail the IRS’s rapidly changing approach to collections, statute of limitation protections, and operations. By the end of this course, you will know how these new and sudden changes affect your clients and enable you to answer the many questions they may have as a result of these changes.

Because the details surrounding the Coronavirus are uncertain, the legislation is ever‐changing. The information in this course is intended to provide information on new legislation that has been put in place up until this point. As any potential major changes occur, those who take this program will be kept up to date.

Learning Objectives

At the end of this course, you will be able to:

  • Explain the Stafford Act Emergency Declaration
  • Interpret the Families First Coronavirus Response Act
  • Discuss the CARES Act
  • Discuss and interpret details surrounding the Tax Payment and Tax Filing Reliefs
Major Topics

Highlights:

  • Stafford Act Emergency Declaration
  • IRS Notice 2020‐17 – Tax Payment Relief
  • IRS Notice 2020‐18 – Tax Filing Relief
  • Filing and Payment Deadline IRS FAQ
  • Families First Coronavirus Response Act
  • CARES Act
Provider
Werner-Rocca
Course Level
Basic
Professional Area of Focus
Tax
CPE Field of Study
Taxes
3
Who Should Attend

CPAs, EAs, and financial professionals

Instructor(s)
Arthur Werner
Prerequisites

None

Advanced Preparation

None

Location
Online
Event Information
When
Apr 6, 2020
12:00 pm - 3:00 pm EST
Location
Online
Total CPE Credits
3
Format
Webcast Replay

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$95.00

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$120.00
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Tax Effects of Coronavirus (COVID‐19) and CARES Act


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