Advance Child Tax Credit Payments | CPE | CE Credit

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

What If I Do Not Get a Letter?

2 mins
Child Tax Credit Update Portal

10 mins
What If Income Over Threshold

17 mins
Defaulted Student Loans

26 mins
Reference

37 mins

Course Description

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? 

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!

Major topics highlighted in this online CPE/CE webinar:

What are child tax credit payments?
What if you do not get a letter?
How does the IRS calculate the payment?
What is advance child tax credit eligibility assistant and how to use it?
Are these payments taxable?

Click to access more CPE webinars on Sales & Use Tax | Accounting & Auditing | IRS Audit & Representation

Learning Objectives

To discuss how to compute the amount of the child tax credit.
To discuss how to compute the amount that will be the Advance Child Tax Credit Payments.
To calculate the two-tiered phase out amounts.
To determine whether the taxpayer should opt out of these advance child tax credit payments.
To explore the portals the IRS has on its website.
To analyze the ways to increase the amount of the child tax credit.

Recommended For

This CPE/ CE webinar is suitable for any CPA, EA, AFSP, and Other Tax Professional or staff involved in preparation or review of individual tax returns or providing financial planning guidance to their clients

Who Should Attend?

Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Enrolled Agent
Maryland Tax Preparers
Oregon Tax Preparers
Tax Accountant (Industry)
Tax Attorney
Tax Director (Industry)
Tax Firm
Tax Managers
Tax Practitioners
Tax Preparer
Tax Professionals
Tax Pros
Trust & Estate Tax Professional
Young CPA

Course Qualification

Webinar Qualifies For

1 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00594-21-S)
1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
1 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0568)
1 CE Credit of Federal Tax Law Update for Annual Filing Season Program (AFSP)
1 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00594-21-S)
1 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00594-21-S)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)
1 General Credit for Accountant/Bookeeper

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

QAS Self Study
Pre-requisites :

None
Advance Preparation :

None

IRS APPROVED

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 maintenance 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.

NASBA APPROVED

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 through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Lawrence Pon, CPA/PFS, CFP, EA, USTCP, AEP

Owner, Pon & Associates

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.

About Company

Pon & Associates

www.larryponcpa.com/

We believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success. We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen.

We provide a variety of services including:

Income Tax Preparation for all types of businesses, individuals, trusts, and estates.
IRS and State Audit Representation
Financial Planning
Estate Planning and Preparation
Business startup services including Business Planning
Tax Planning and Consulting
Charitable Planning

Our continual investment of time and resources in professional continuing education, state-of-the-art computer technology and extensive business relationships is indicative of our commitment to excellence.

Faq

FAQs content

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As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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