What Advisors Need to Know Now About the New Stimulus Bill
Description
In response to the coronavirus (COVID-19) pandemic, Congress passed new stimulus relief to bring the resources of the federal government to protect the health and well-being of all Americans. This bill provides several key provisions for taxpayers, including direct economic relief for workers and families, an additional $284.5B for small businesses, and guidance around the deductibility of expenses with forgiven PPP funds. The best way for advisors to prepare for this important development is to join Bob Keebler in this webcast where he will review all of the critical issues you’ll need to master to quickly and competently advise your clients.
Learning Objectives
Identify how the new tax provisions will work for taxpayers
Recognize the types of taxpayers impacted
Identify the details of the new benefits available
Major Topics
Direct economic relief for workers and families
Unemployment benefits
Rental assistance
Childcare assistance
Corporate meal expense deduction
The total deductibility of expenses satisfied with forgiven PPP funds are provided for in the bill
An additional $284.5B of forgivable “second-draw” PPP loans for small and “hard-hit” businesses
The new quarterly revenue rule to even quality for a second PPP loan
Expanded eligible expenses
Simplified forgiveness applications
Simplified covered period rules
How to increase prior loans because of regulatory changes
Special rules for farmers and ranchers
Provider
AICPA
Course Level
Basic
Professional Area of Focus
Tax
CPE Field of Study
Taxes
2
Who Should Attend
CPAs, tax professionals, Sole practitioners, Small/medium business owners, Other qualified professionals
