Become a Valued Member of myCPE Professionals Community
Trusted by 250,000+ Professionals
5.0
"Steven was knowledgeable and thorough…”
Steven was knowledgeable and thorough in his information about the product and what is offered. He was empathetic to my situation. He went above and beyond answering all of my many questions. Excellent service!
Crystal lovejoy
5.0
"Great Customer Service”
Great service and very patient as I asked several questions. Steven answered all my questions and helped me make the right decision in my subscription purchase. Thank you.
Lori corry
5.0
"It is what it advertised to be”
It is what it advertised to be. Professional quality training and CPE tracking and certificates; systems knows AZ CPA CPE requirements and categories. I've needed help on several occasions and the assistance was quick and effective; however, there were some problems with data entry. The assistance sometimes asks for input, but when I try to type it is dissallowed for some reason. On several occasions I had to close the popup to get it out of my way.
Brian Carey
5.0
"Great customer service”
Great customer service. Classes are pertinent. Great value
Become a Valued Member of myCPE Professionals Community
Trusted by 250,000+ Professionals
5.0
"Steven was knowledgeable and thorough…”
Steven was knowledgeable and thorough in his information about the product and what is offered. He was empathetic to my situation. He went above and beyond answering all of my many questions. Excellent service!
Crystal lovejoy
5.0
"Great Customer Service”
Great service and very patient as I asked several questions. Steven answered all my questions and helped me make the right decision in my subscription purchase. Thank you.
Lori corry
5.0
"It is what it advertised to be”
It is what it advertised to be. Professional quality training and CPE tracking and certificates; systems knows AZ CPA CPE requirements and categories. I've needed help on several occasions and the assistance was quick and effective; however, there were some problems with data entry. The assistance sometimes asks for input, but when I try to type it is dissallowed for some reason. On several occasions I had to close the popup to get it out of my way.
Brian Carey
5.0
"Great customer service”
Great customer service. Classes are pertinent. Great value
Steve
1/4
Subscribe Now at $199/ 12 Months
Topic of Interest
Select the topics of your interest to receive Webinars/Virtual Events/E-Books/Podcasts of your interest.
Not found
Selected Topics
Important: Course Deactivation Alert
Below mentioned Courses will be deactivated soon due to outdated content. Complete the course within the next 7 days to receive credits. After Expiry date, the course will be unavailable for credit. For assistance or inquiries, please contact our support team at support@my-cpe.com.
Latest Update On Infrastructure Bill, ERC, And Crypto Reporting
Latest Update On Infrastructure Bill, ERC, And Crypto Reporting
Imtiaz Munshi, CPA
Published On : Aug 04, 2021
826
Inside This Article
The CARES Act, 2021, created several programs to provide financial assistance to employers during and after the Covid-19 restrictions. Its flagship program, the Employee Retention Credit (ERC), which was amended after that by the Consolidated Appropriations Act, will finally be terminated. The American Rescue Plan Act made the ERC available to eligible employers for the third and fourth quarters of 2021. However, the Infrastructure Investment and Jobs Act, known as H.R. 3684, repeal that. It effectively makes wages paid after September 30, 2021, ineligible for the credit.
The Senate passed the infra bill by a vote of 69-30 and now awaits approval from the House of Representatives. As the name suggests, it will contribute massively on an array of infra projects and comes with some other tax provisions. Additionally, it requires broker reporting of crypto-asset transfers.
Broker Reporting on Cryptoassets
The bill imposes crypto-asset reporting requirements on brokers. Under section 6045(c)(1), a broker is anyone who makes ‘transfers of digital assets on behalf of another person. A digital asset means “any digital representation of value which is recorded on a cryptographically secured distributed ledger or any similar technology.”
Disaster Relief under SECURE Act, 2019.
This bill changes the automatic extension of specific deadlines for those affected by disasters as defined in the SECURE Act, 2019. It amends the definition of a ‘disaster area’ as ‘an area in which a major disaster for which the President provides financial assistance under section 408 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act occurs '.
Other related tax provisions
It provides an extension of numerous highway-related taxes along with stretching and modification of some superfund excise taxes. Further, it offers private activity bonds for qualified broadband projects and carbon dioxide capture facilities.
Share with
Imtiaz Munshi, CPA
CFO, AZSTEC LLC
The author Imtiaz Munshi is a Certified Public Accountant and CFO at Azstec, LLC. He is Business Strategist, Tax Planner, Entrepreneur and Advisor to "HNEs" (High Net Worth Entrepreneurs).
Experience MYCPE ONE at its best! Upgrade your browser for a more interactive, user-friendly interface, and stay ahead in your professional development journey.
Imtiaz Munshi, CPA 
