TAX UPDATE : FCCA 2020 & SECURE ACT. (COVID-19)
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Course Details

Overview of Topics

  • COVID-19 Update3 mins
  • Tax Extenders and the SECURE Act17 mins
  • What else is truly new for 2019?25 mins
  • Form 1040 – Schedules 1, 2 and 3, Schedule A, Tax Preparer Due Diligence31 mins
  • Business Tax Overview72 mins

Course Description

It is necessary for all the accounting and tax professionals to take this CPE course which covers all legislative, judicial, and IRS developments including "FURTHER CONSOLIDATED APPROPRIATIONS ACT 2020" & "SECURE ACT."

President Trump signed into law the Further Consolidated Appropriations Act of 2020 (FCAA). The FCAA contains the most comprehensive retirement reform since the Pension Protection Act of 2006. Included within the provisions of the FCAA is the Setting every Community up for Retirement Enhancement (SECURE) Act. The SECURE Act will make a number of changes to the current retirement system. This course will cover all aspects of what is new for 2020 and what changed with the Tax Cuts and Jobs Act. We will start by discussing what is truly new for 2019, and then discuss the impact of the TCJA on 1040 by going from the "top-down" and discussing every line and schedule.

We will also cover what has changed with tax credits, and tax preparer due diligence on Form 8867. The second part of the course will cover business taxes, with emphasis on the QBI deduction, basis tracking for partners and S-corporation shareholders, and changes to various business-related deductions, as well as payroll changes.

This fast-paced program will highlight legal and regulatory developments and  will include the changes from TCJA. Emphasizing implementation and compliance, this comprehensive webinar will help you effectively and confidently complete tax-planning and compliance engagements, by applying current developments affecting the following areas:

  • Individuals 
  • Business entities 
  • Estates and trusts
  • Retirement plans
  • Further Consolidated Appropriations Act
  • Secure Act

Webinar Qualifies for

  • 2 CPE credit of Taxes for all CPAs
  • 2 CE credit of Federal Tax for Maryland Tax Preparers
  • 2 CE credit of Federal Tax Law Update for CRTPs (CTEC Approved-6273)
  • 2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )
  • 2 CE credit of Federal Tax Update for Oregon Tax Preparers

Learning objectives

  • Learn what is truly new for 2020
  • Learn what is the impact of TCJA on the 1040 with latest developments
  • Learn how the QBI deduction works
  • Learn about basis tracking for partners and S-corporation shareholders
  • Learn about changes to deductions on business returns

About Presenter

Jason Dinesen, EA, LPA

Advisor,Dinesen Tax & Accounting, P.C.

jason@dinesentax.com

Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to individuals with a business focus ranging from home-based businesses to multistate corporations and not-for-profits. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College.

Unlike some other accounting firms, when Dinesen Tax & Accounting, P.C. says we offer personal service, we mean it. When you come to us with your tax preparation needs, you’ll deal directly with our owner and president, Jason Dinesen. We don’t put administrative staff in the middle of you and our tax expert. That means you’ll always have first-hand knowledge of where things stand, and important information won’t slip through the cracks. We welcome all clients, but especially individuals who want the benefits of a long-term relationship with an accounting firm capable of handling anything that might come along with their taxes. We give all our clients the time, attention, and convenience they should expect. If you have a challenging professional or personal schedule, Jason will accommodate you by meeting whenever – and wherever – works best for you.

Review Questions

  • Question 1 : 00:15
  • Question 2 : 00:30
  • Question 3 : 00:45
  • Question 4 : 01:07
  • Question 5 : 01:25
  1. Which of the following individuals are considered an eligible designated beneficiary under Secure Act?
  2. At which age there are no required minimum distributions?
  3. How long are you required to keep documentation relating to the Form 8867?
  4. Which is included in miscellaneous deductions?
  5. What is the standard deduction for single and married filing separately?
  1. Qualified Plans to be distributed within how many years after death?
  2. What is the full form of PPP?
  3. When payback is required?
  4. Alimony is no longer taxable or deductible for divorce decrees finalized after which date?
  5. What is the threshold limit for deduction of medical expense?
  6. What is the limit on deducting state and local taxes?
  7. Which form is used for premium tax credit?
  8. Which schedule is used by gamblers who are not professional gambler?

FAQ

  • myCPE self-study courses are online.
  • The self-study format allows you to access the material online 24/7 and study at your own pace.
  • As per NASBA guidelines, you have one year from date of registration to complete each program.
  • Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
  • Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
  • These are Live recorded presentations converted into Self Study (On-Demand Videos).

Refund/Cancellation Policy

  • For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
  • Please email to   help@my-cpe.com  in case of any self study program queries.

Reviews

4.7
(92)
76%
22%
1%
0%
1%
  • DR
    David Rylander , EA
    Jul 1st 2020
    this is my favorite presenter
MB
Merri Bradley , EA
but there are typos in the final quiz ...
CAM
Citra Ari Mangesti , CPA, CFP
Great
DM
DANIEL MCMILLAN , ABV, MBA, EA
Excellent presentation
MB
Melvin Bernard
na
CL
Cheryl Leichtman , CPA
thank you awesome presentation

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.

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

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.

On-Demand Webinars

CARES ACT: NOL CHANGES (UPDATED LATEST)
Friday, July 03, 2020 View Details/Register
UNDERSTANDING & ADOPTING THE NEW REVENUE RECOGNITION STANDARD
Thursday, July 02, 2020 View Details/Register
FRAUD ESSENTIALS: WHO? HOW? WHY? WHAT?
Thursday, July 02, 2020 View Details/Register
PRACTICAL APPROACHES TO PERFORMING EFFICIENT & EFFECTIVE SSARS ENGAGEMENTS (COMPILATION AND REVIEW)
Thursday, July 02, 2020 View Details/Register
ARE YOU INDEPENDENT WHEN YOU NEED TO BE? UNDERSTANDING RECENT CHANGES TO THE AICPA CODE OF PROFESSIONAL CONDUCT
Thursday, July 02, 2020 View Details/Register
IRS FORM 1099 REPORTING REQ. INCLUDING UPDATES ON FORM 1099-NEC (LATEST 2020)
Thursday, June 25, 2020 View Details/Register
FEDERAL TAX UPDATE: COMPREHENSIVE INDIVIDUAL TAX (FORM 1040)
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR UTAH CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR MISSISSIPPI CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR MINNESOTA CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR CONNECTICUT CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR ARIZONA CPAS
Thursday, June 25, 2020 View Details/Register
MAXIMIZE YOUR SAVINGS POTENTIAL THROUGH HEALTH SAVINGS ACCOUNTS (HSAS)
Monday, June 22, 2020 View Details/Register
Arizona Specific Ethics (Part 1)
Monday, June 22, 2020 View Details/Register
General Ethics AICPA (2 Hours)
Monday, June 22, 2020 View Details/Register
  • Cost $15
  • CPE Credits 1.5
  • CE Credits 1
  • IRS Course ID GEHNZ-U-00100-19-S
  • CTEC Course ID 6273-CE-0074
  • Subject Area Taxes
  • Course Level Basic
  • Instructional Method QAS Self Study
  • Prerequisites None
  • Advanced Preparation None
  • Recorded Date June 26 ,2020
  • Published Date June 26 ,2020
  • Who should attend? Enrolled Agent Tax Attorney Tax Practitioners Bookkeeper Accountant Business Owner QB Pro Advisor Accounting Firm Tax Pros Tax Firm Young CPA CPA in Business Entrepreneurial CPA Senior Accountant
  • Handout Material Download
  • Key Terms Download

On-Demand Webinars

CARES ACT: NOL CHANGES (UPDATED LATEST)
Friday, July 03, 2020 View Details/Register
UNDERSTANDING & ADOPTING THE NEW REVENUE RECOGNITION STANDARD
Thursday, July 02, 2020 View Details/Register
FRAUD ESSENTIALS: WHO? HOW? WHY? WHAT?
Thursday, July 02, 2020 View Details/Register
PRACTICAL APPROACHES TO PERFORMING EFFICIENT & EFFECTIVE SSARS ENGAGEMENTS (COMPILATION AND REVIEW)
Thursday, July 02, 2020 View Details/Register
ARE YOU INDEPENDENT WHEN YOU NEED TO BE? UNDERSTANDING RECENT CHANGES TO THE AICPA CODE OF PROFESSIONAL CONDUCT
Thursday, July 02, 2020 View Details/Register
IRS FORM 1099 REPORTING REQ. INCLUDING UPDATES ON FORM 1099-NEC (LATEST 2020)
Thursday, June 25, 2020 View Details/Register
FEDERAL TAX UPDATE: COMPREHENSIVE INDIVIDUAL TAX (FORM 1040)
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR UTAH CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR MISSISSIPPI CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR MINNESOTA CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR CONNECTICUT CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR ARIZONA CPAS
Thursday, June 25, 2020 View Details/Register
MAXIMIZE YOUR SAVINGS POTENTIAL THROUGH HEALTH SAVINGS ACCOUNTS (HSAS)
Monday, June 22, 2020 View Details/Register
Arizona Specific Ethics (Part 1)
Monday, June 22, 2020 View Details/Register
General Ethics AICPA (2 Hours)
Monday, June 22, 2020 View Details/Register