CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

New Form 941, Form 7200, ERC, Tax Credits Under FFCRA, & Other Payroll Updates In Covid-19

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Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

  • AFSP
  • CFP
  • CFEs
  • CPA
  • CVA
  • EA
  • HRCI
  • Tax Preparer
  • SHRM
  • CTEC

Published: May, 2021

2 Credits

$20

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-00166-20-S)

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0178)

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

2 PDC credit for SHRM Professionals (Approval No. 21-7K9ZZ)

2 Business Credit credit for HRCI Certified Professionals (Approval No. 546625)

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CE credit of Tax Planning for all CFPs (CFP Board Approved : 8061) (Approval No. 290000)

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00166-20-S)

2 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00166-20-S)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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

Overview

  • Employee Retention Credit
    3 mins
  • Working from home
    12 mins
  • Calculation
    32 mins
  • PPP and wages claimed
    43 mins
  • COBRA
    56 mins
  • Example
    85 mins

Course Description

The IRS recently released a new version of Form 941 for the second quarter of 2020. This revised form will account for COVID-19 related tax credits, including the employee retention credit (ERC) and tax credits under the Families First Coronavirus Response Act. We will cover the new Form 7200 for claiming advance payment of the tax credits, and how to reconcile on the Form 941. The course will also review the ERC and FFCRA credits, as well as the ability to defer employer-side Social Security taxes. We will tie everything together with a case study that includes filled out forms.

CARES Act and Stimulus packages have thrown a lot of incentives and money on the table for small business. CPA, Accountants, Tax Professionals, and Advisors have to look into all the aspects to serve their clients or advise their company. In the noise of PPP and it's a forgivability lot of other things have been overlooked, which could bear a very significant impact on your clients.

Among the many tax provisions included in the CARES Act, crafted to provide liquidity for businesses suffering the effects of the COVID-19 outbreak, is one that postpones the employer portion of certain payroll taxes imposed in 2020 and gets tax credits. In this Online Webinar, we shall highlight some of the overlooked aspects of these changes

This Online CPE Webinar covers payroll-related COVID-19 changes including following Key Topics:

  • The ability to defer payment on employer-side Social Security taxes.
  • A tax credit for employers who meet the requirements for the Employee Retention Credit.
  • A tax credit for paying mandatory sick leave under the Families First Coronavirus Response Act.
  • New form 941 of Quarterly payroll filings, to account for these deferrals and credits
  • A new form called Form 7200 which can be used for claiming advance payments on the tax credits for qualified sick leave wages, qualified family wages and employee retention credits
  • We will talk about how all of these provisions and forms tie together. We will also discuss how Payroll Protection Program (PPP) loans enter into the mix on this.

Tax Expert Jason Dinesen has been very vocal on COVID-19 and has garnered great reviews for providing his insights to attendees. He has educated more than 10000 professionals so far on COVID-19 related topics. This new CPE/CE webinar is going to be insightful experience for all the attendees

Learning Objectives

  • To review payroll-related COVID-19 relief provisions: deferral of Social Security tax, the ERC, and tax credits under the FFCRA
  • Overview of revisions to the Form 941
  • How to claim credit in Families First Coronavirus Response Act for qualified sick leave wages, qualified family leave wages
  • How a PPP loan ties into all of this
  • How deferral of employer-side Social Security tax works

Who Should Attend?

  • Certified Financial Planner
  • Certified Fraud Examiner
  • Certified Payroll Manager
  • Certified Valuation Analysts
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • HR Professionals
  • Human Resources Manager
  • Payroll Compliance Practitioner
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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