CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

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

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

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 Certified Professionals (Approval No. 21-7K9ZZ)

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

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

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

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

Overview

  • ERC
    2 mins
  • Why Are We Talking About 2020?
    6 mins
  • Gross Receipts Test
    15 mins
  • Employee Retention Credit
    22 mins
  • PPP Interaction
    39 mins
  • Reporting
    55 mins
  • Form W-2c
    66 mins
  • Form 941
    87 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 Form 941. The online CPE 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 filling out forms.

CARES Act and Stimulus packages have thrown a lot of incentives and money on the table for small businesses. CPAs, 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 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 continuing education course, we shall highlight some of the overlooked aspects of these changes

This Free Online CPE webinar covers payroll-related COVID-19 changes including the 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 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 online CPE/CE webinar is going to be an 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 Payroll Manager
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • HR Professionals
  • Human Resources Manager
  • Payroll Compliance Practitioner
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Testimonial

3.7

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17%
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