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Latest Employee Retention Tax Credits (ERC) Updates (Incl. Aug 10 - Safe Harbor Update)

Latest Employee Retention Tax Credits (ERC) Updates (Incl. Aug 10 - Safe Harbor Update)

2 Credits

FREE

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00649-21-S)

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0617)

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

2 PDC credit for SHRM Certified Professionals (Approval No. 21-PYSC5)

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 CE credit of Tax Planning for all CFPs (CFP Board Approved : 8061) (Approval No. 289996)

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00649-21-S)

2 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00649-21-S)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Before starting this self study program, please go through the instructional document.

Overview

  • Qualifying
    2 mins
  • 2021 Gross Receipts
    16 mins
  • Qualifying Under Both
    24 mins
  • Wages: Odds and Ends
    39 mins
  • PPP and ERC
    58 mins
  • Just One More Thing
    88 mins

Course Description

The Consolidated Appropriations Act, 2021 expanded the Employee Retention Credit (ERC) for 2021 and opened the door for retroactive credit claims for 2020. The prior restriction on businesses with PPP loans not being able to claim the ERC was lifted, retroactively back to the beginning of the ERC in March of 2020. The legislation created two worlds: one for 2020, and then major changes for 2021. 

This online CPE webinar for CPAs, EAs, and Tax Professionals will cover the latest updates, comparisons between 2020 and 2021, and discuss how lifting the PPP restriction that comes with caveats is still good on certain aspects. The continuing education course will also discuss income tax considerations relating to ERC claims because the allowable amount of deductions is reduced by the amount of credit received.

This online CPE webinar covers the following key topics:

  • ERC in general
  • ERC for 2020
  • LATEST ERC for 2021
  • Meeting the "shutdown provision"
  • Meeting the gross receipts test
  • What is the employee count for ERC purposes?
  • What are wages?
  • Calculating the credit
  • Interaction between ERC and PPP
  • Income tax considerations
  • Case studies and filled out forms

Learning Objectives

  • To define ERC
  • To examine the differences between 2020 and latest 2021 versions of the ERC
  • To discuss how to calculate employee count and determine wages
  • To discuss how to calculate the credit
  • To discuss how to make retroactive claims

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA