Advance Child Tax Credit Payments 1 Credit
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Your clients may be getting another letter from the IRS!  But wait, it may be good news.   
The IRS will be sending eligibility letters to families who qualify for the advance Child Tax Credit payments starting on July 15th.  More than 36 million families will be getting these letters.
How many of them are your clients? Â
You will know when you start getting confused calls from your clients.
As part of the American Rescue Plan that was signed in the middle of tax season, not only did the child tax credit increased, it will be partially paid in advance.
Families who are eligible for the Child Tax Credit payments will receive a second personalized letter listing an estimate of their monthly payment
The IRS will be sending payments to taxpayers for the Advance Child Tax Credit Payments. The IRS is setting up a portal to allow taxpayers to opt out of these payments or make adjustments to their information. Taxpayers are going to need your help!Â
Major topics highlighted in this online CPE/CE webinar:
Click to access more CPE webinars on Sales & Use Tax | Accounting & Auditing | IRS Audit & Representation
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01980-24-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01980-24-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1573) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01980-24-S) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-01980-24-S) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01980-24-S) | 1 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Taxes for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Enrolled Agents (EA) (Approval No. GEHNZ-U-00594-21-O) | 1 CE | Approved |
| Taxes for Annual Filing Season Program (AFSP) | 1 CE | Approved |
| Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0568) | 1 CE | Approved |
| Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00594-21-O) | 1 CE | Approved |
| Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00594-21-O) | 1 CE | Approved |
| Taxes for Chartered Life Underwriter (CLU) | 1 CE | Eligible |
Credit
1
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.
Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent.Â
Lawrence Pon is a Certified Public Accountant, Personal Financial Specialist, Certified Financial Planner, Enrolled Agent, United States Tax Court Practitioner, and Accredited Estate Planner in Redwood Shores, CA
Mr. Pon has been in tax practice since 1986 and speaks regularly to tax professionals and financial advisors on the latest tax planning and preparation topics.
Mr. Pon enjoys helping his clients reach their financial goals through comprehensive tax planning and financial planning.
Mr. Pon received his BS in Business Administration (Accounting & Finance) from UC Berkeley and MS in Taxation from Golden Gate University in San Francisco.
What is Self Study (QAS)?
Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
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To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.
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After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
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To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Are the live webinars approved by NASBA and other regulatory bodies?
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
What are the requirements to maintain compliance with live webinar courses?
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
How can I access my webinar completion certificates?
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
How are credits reported to governing bodies?
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
GA
This was by far the most educational and pleasant myCPE course I have taken. The instructor was knowledgeable, pleasant and engaging, presenting the information in an understandable manner. He shared a wealth of valuable, timely information. I am putting some of the handout information in my office resource book because I know I will need to refer to it in the future.
YM
This was the first course I have taken through MyCPE. I LOVED it. It was very defining and the instructor was very knowledgeable and thorough. I found it very beneficial in that he also provided the external links for any references. I will definitely continue taking these course. Thank you, OUTSTANDING job.
.webp "Annual Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065)")
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