Latest on ERC: File Legitimate ERC Claims for Your Client 2 Credits 2 Credits
Learning mode
This course is valid up to December 31st, 2024 for CFP Professionals. It is advisable to complete this course before that to process the credit on time.
In mid-September, the IRS announced a moratorium on processing new employee retention credit (ERC) claims through at least December 31, 2023. Tax professionals should welcome this change, as the program has been overrun with wrongful claims (up to 95% wrongful claims recently, according to the IRS).
With this action, tax pros may think ERC is dead, or be afraid of putting in claims for clients who qualify. One thing to be clear on is, the program is still active. And, a legitimate claim is not a scam. There’s no reason for a client who legitimately qualifies to not apply.
This webinar covers the moratorium in detail, as well as recent IRS guidance on supply chain disruptions, and other “what’s new” topics. We have a deep discussion of ethics, in particular, what a tax pro should do if your client went to a credit mill and put in a wrongful claim. The IRS is going to be rolling out 2 options for businesses that made wrongful claims: one option is to withdraw the credit claim before it’s been processed, and the other option will be an amnesty program for businesses that made wrongful claims that have already been paid. Exact details are still pending, but we will talk about what we know. And, through it all, practitioners have ethical considerations and client relationship considerations. We then discuss aspects of qualifying for ERC: what is a shutdown? What is the gross receipts test? Who is a recovery startup? We will tackle the complex area of aggregating related businesses, and cover the impact of ERC on income tax returns.
Major Topics Covered:
Join this CE Tax Webinar, which is sponsored by ERC-PPP Tax Specialist, one of the original consulting firms in the ERC arena. We work exclusively with accounting firms and tax pros in consulting engagements with the firm or tax pro, to help determine ERC qualification, and to help you make a successful ERC claim for your client if the client legitimately qualifies.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01738-23-O) | 2 CE | Approved |
| Federal Tax Law Update for Annual Filing Season Program (AFSP) | 2 CE | Approved |
| Business Acumen for SHRM Professionals (Approval No. 24-3PUPX) | 2 PDC | Approved |
| Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01386) | 2 CE | Approved |
| HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 649333) | 2 RCH | Approved |
| Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 322134) | 2 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01738-23-O) | 2 CE | Approved |
| Federal Tax Law Update for LTC (Approval No. GEHNZ-U-01738-23-O) | 2 CE | Approved |
| Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01738-23-O) | 2 CE | Approved |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01738-23-O) | 2 CE | Approved |
| Federal Tax Law Update for Annual Filing Season Program (AFSP) | 2 CE | Approved |
| Business Acumen for SHRM Professionals (Approval No. 24-3PUPX) | 2 PDC | Approved |
| Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01386) | 2 CE | Approved |
| HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 649333) | 2 RCH | Approved |
| Tax Planning for Certified Financial Planner (CFP-US) (Approval No. 322134) | 2 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01738-23-O) | 2 CE | Approved |
| Federal Tax Law Update for LTC (Approval No. GEHNZ-U-01738-23-O) | 2 CE | Approved |
| Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01738-23-O) | 2 CE | Approved |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
Credits
2
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.
Jason Dinesen (LPA, EA) is an entrepreneur, tax expert, and CPE Presenter. Dinesen brings over 15 years of experience helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries. Dinesen is a regular CPE Presenter at MYCPE ONE. He has coached more than 200k+ accounting, taxes, and HR professionals on various topics of accounting, individual taxation, corporate taxation, and professional ethics. Jason has developed a strong following within the professional community for tax-related subjects. Dinesen is known for sharp tax interpretations, and he quickly brings his analysis of the latest tax updates and IRS guidance to the professional community.
The author Imtiaz Munshi is a Certified Public Accountant and CFO at Azstec, LLC. He is Business Strategist, Tax Planner, Entrepreneur and Advisor to "HNEs" (High Net Worth Entrepreneurs).
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.
How do I earn CPE credits through self-study?
To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.
Are the self-study courses approved by NASBA and 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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A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
How do I earn credits through live webinars?
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.
SB
I've been looking forward to Jason's webinar. He delivered. Fantastic detailed presentation from someone in the field. Appreciate the help understanding the ERC. Best, Steve Barrett CPA
TB
For a 2 hour timeframe, this was a very really useful session for me filled with great material. Both of the instructors were extremely knowledgeable and this was very informative.
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