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Cash and Kids: Momentum on Child Tax Credit

  • AFSP
  • CPA (US)
  • CFA
  • EA
  • Tax Preparer
  • CPA/PFS
  • CTEC
Child Tax Credit CE Webinar

1 Credit

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00623-21-O)

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0595)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 PL credit for Chartered Financial Analyst (CFAs)

1 CPD credit (Verifiable) for CPA/PFS

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00623-21-O)

1 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00623-21-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

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Sep 21, 2021 | 01:30 PM EDT View Details

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The Fundamentals of PEOs: Everything You Need to Know to Find, Refer and Work with a Professional Employer Organization

Sep 21, 2021 | 02:00 PM EDT View Details

Accounting & Tax Implications of Accounting Changes & Errors

Sep 21, 2021 | 02:00 PM EDT View Details

IRS Representation Series - Reducing IRS Assessments for Interest & Penalties

Sep 21, 2021 | 02:30 PM EDT View Details

How to Make it Easy for Clients to Work with Your Accounting Firm

Sep 21, 2021 | 03:00 PM EDT View Details

Demystifying the Magic of Deferred Taxes

Sep 21, 2021 | 03:00 PM EDT View Details

Products and Services Subject to Sales Tax

Sep 21, 2021 | 03:30 PM EDT View Details

Auditing for Corruption

Sep 21, 2021 | 03:30 PM EDT View Details

Excel’s Data Validation Tools - keep out bad data from the start

Sep 21, 2021 | 03:30 PM EDT View Details

SOX Internal Controls For Accounts Payable, Receivable & Inventory

Sep 22, 2021 | 09:00 AM EDT View Details

S-Corp Preparation, Basis Calculations & Distributions – Form 1120S Schedule K & K-1 Analysis

Sep 22, 2021 | 09:00 AM EDT View Details

Updates to Significant GAAP Topics

Sep 22, 2021 | 09:30 AM EDT View Details

This Course is Also Available in Self Study (On-Demand)

Click Here

Course Description

The American Rescue Plan expanded the child tax credit, and tax pros and their clients have many questions. Advance payments of the expanded credit started being sent in July.

On July 15, more than 35 million American families received the first of six-monthly child tax credit payments.

However, some families may want to opt out of the remaining payments, according to financial experts, and instead wait to claim the entire credit when they file their 2021 taxes next year.

Before the payments began, roughly 1 million families had already decided to forgo them, which can be hundreds of dollars per month, according to the IRS and U.S. Treasury Department.

It’s important to allow that ability to opt out of these payments because we don’t know how people have budgeted their tax refunds, and so if it’s important to them that they receive this credit as one payment, we want to make sure people still have that option.

Families can still pause the money through an IRS online portal. The last day to tell the agency not to send the next payment is Aug. 2.

But the question is:

Should people opt out of these payments?

How will it impact a taxpayer's 2021 tax return?

We will cover these topics and more in this fast-moving 1-hour CPE/CE webinar. As time allows, we will also cover the Form 8867, due diligence requirements, which will apply to the child tax credit.

Major Topics covered in this online CE/CPE webinar:

  • Child tax credits
  • Forms required to be filed
  • Due diligence rules

Click here to access CE courses on Latest Tax Updates

Learning Objectives

  • To determine what is the new child tax credit
  • To describe the IRS guidance and where to find it
  • To review the expanded credit for childcare expenses
  • To determine how to properly advise clients on how the child tax credit, expanded childcare credit, and stimulus payments, come together
  • To discuss how to use Form 8867, due diligence checklist, to avoid penalties

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Public Accountant
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Financial Planner
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist (PFS)
  • Tax Attorney
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Young CPA

Testimonial

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4.9

(11)
91%
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PC

Great Overview

CD

this was a very strong hour