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IRS Issues Informal CARES Guidance on IRAs and Qualified Plan

4.6 (1502)

Robert Keebler, CPA, CGMA, CPA/PFS, AEP

Keebler & Associates LLP

Monday, July 20, 2020 | 09:00 AM EDT

  • AFSP
  • CPA Canada
  • CPA
  • EA
  • Tax Preparer
  • Oregon Tax Preparer
  • CTEC

1 Credit

FREE

Subject Area

Taxes

Upcoming Webinars

Course Description

Whether you’re a lawyer, CPA, trust officer, or financial advisor you need to show your clients that you “CARE.” Section 2202 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), provides for certain penalty-free distributions and rollovers, and expands retirement plan loans. Many of these provisions, while helpful, are difficult to take advantage of with certainty. However, on May 5, 2020 the Service on its website pushed a “FAQ.”

In his exclusive LISI Webinar, Bob Keebler will analyze this informal guidance in order to help you understand how to help your clients. Specifically, Bob will analyze the following topics with case study examples:

  • Qualifying for the $100,000 penalty-free distribution
  • Recognizing income from the coronavirus-related distribution over three-years
  • Re-paying the coronavirus-related distribution
  • The relevance of Notice 2005-92
  • Outstanding loan repayment delay
  • Limitations increased for new loans made between March 27 and September 22
  • How the relief applies to employers
  • Reporting distributions & repayments
  • RMD relief for 2020
  • RMD roll-backs in 2020
  • Roth Conversions in a down market

Learning Objectives

  • To identify various guidelines issues by the IRS for the CARES Act.
  • To identify the impact of new guidelines issues by IRS on retirement plans
  • To identify various CARES Act provisions for coronavirus-related distributions and loans are optional for plan sponsors to adopt.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Auditors
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Attorney
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Young CPA

Testimonial

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(
    [no_of_record] => 1502
    [average] => 4.6158
)
 

4.6

(1502)
67%
28%
4%
0%
0%

CE

I'm always impressed with the webinars by Bob Keebler! I always gain knowledge from them that I can use personally as well as professionals

RS

Robert Keeler is a presenter who will always be concise and clear. He uses plain language and his charting is easy to follow and use.

RC

The information Bob shared was excellent. He understands all the complications that can come up with IRA trusts and has great solutions.

LE

Another, masterful webinar by one of the kings of this discipline. Bob's webinars and slides offer great info to assist practitioners in completing many complex tasks. His webinars are not to be missed.

JL

Bob Keebler is an amazing instructor. He manages to present so much information in a small amount of time and does it in a clear and concise manner. I learned so much that I can put to use immediately in my practice!

DE

I have attended a few seminars presented by Bob, and all well presented. We come away with a well understanding of Conduit and Accumulation Trust and how the Roth IRA is affected. Very knowledgeable and passionate about the subject matter.