On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), legislation designed to provide economic relief for those impacted by COVID19, became law. This course provides a general review of the principal provisions of the CARES Act and of other federal tax-related stimulus legislation passed during 2020, including the Tax Relief Act of 2020 signed into law on December 27, 2020.
No advance preparation needed
Program Level – Basic
Program prerequisites – None
Delivery method – QAS self-study
Recommended CPE credits – 3
Recommended field of study – Taxes
Course Learning Objectives
- Apply the recovery rebate rules;
- Describe the provisions of the Paycheck Protection Program;
- Recognize the rules related to unemployment benefits under the Pandemic Unemployment Assistance program;
- Apply the provisions regarding expanded tax-favored use of retirement funds;
- Identify the changes to net operating loss (NOL) carryback rules;
- Apply the changes in charitable contribution rules;
- Describe the changes in health savings account (HSA) rules related to first-dollar payment for telehealth and COVID-19 testing and treatment;
- Apply the rule changes to qualified improvement property depreciation; and
- Recognize the rules related to miscellaneous provisions, including –
- Changes to the rules related to the business deduction of food and beverages,
- Changes to the CTC and EITC rules,
- Changes to the foreign income exclusion,
- Section 1031 exchange timing,
- Correction of the deductible period applicable to qualified improvement property,
- Modification of limitation on losses for non-corporate taxpayers,
- Changes to the limitation on business interest expense deductions,
- Exclusion of certain employer payments of student loans, and
- Expansion of economic injury disaster loans (EIDLs).
Copyright 2023 by Winn Publications ALL RIGHTS RESERVED. NO PART OF THIS COURSE MAY BE REPRODUCED IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE COPYRIGHT HOLDER. All materials relating to this course are copyrighted by Winn Publications. Purchase of a course includes a license for one person to use the course materials. Absent specific written permission from the copyright holder, it is not permissible to distribute files containing course materials or printed versions of course materials to individuals who have not purchased the course. It is also not permissible to make the course materials available to others over a computer network, Intranet, Internet, or any other storage, transmittal, or retrieval system. This document is designed to provide general information and is not a substitute for professional advice in specific situations. It is not intended to be, and should not be construed as, legal or accounting advice which should be provided only by professional advisers. No advance preparation needed Program Level - Basic Program prerequisites - None Delivery method - QAS self-study Recommended CPE credits - 3 Recommended field of study - Taxes
