21WA-3938: ACPEN Signature: Consolidated Appropriations Act Update (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Tuesday, April 20, 2021
9:00am - 11:00am Central Time
2 CPE (2 technical)

There are numerous new rules, tax extenders, changes and corrections in the Consolidated Appropriations Act enacted at the end of 2020. Answers that were thought to be correct in early December are now changed. Some extenders are permanent, some are for 5 years, some are for 2 years and some are for only 1 year. Fortune magazine has called the new Corporate Transparency Act “the most important anti-corruption reform in decades” yet few know about it. Maybe that's because it was part of the National Defense Authorization Act.

Major subjects

• New reporting requirements for small business and privately owned entities under the Corporate Transparency Act
• PPP Round 2
• Deductibility of PPP Funded Expenses
• Basis Effects of Forgiveness of PPP Loans
• Authority to Waive Filing Requirements for PPP Loan Forgiveness
• Educator Expenses for Protective Equipment
• Changes to Farmer NOL Carryback Rules and Prior Elections
• Modifications to the Payroll Tax Credit Rules
• Employee Retention Tax Credit Modifications
• Deferral of the Employee Portion of Payroll Taxes
• Extended Charitable Deduction for Non-Itemizers
• Temporary Increase of Business Meal Deduction to 100%
• Tax Extenders
• and More

Learning objective(s)

• Understand new rules, tax extenders, and updates in the Consolidated Appropriations Act
• Clarify rules, and requirements around PPP Loans

Who should take this program?

Public Practitioners and Industry CPAs, EAs

Fees