COVID-19 Tax Update – Families First and Notice 2020-18 (2 hours - morning) – NEW! – Webcast

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Apr 3, 2020

Registration: 7:30 AM / Program: 8:00 AM - 10:00 AM

Fees

Member Fee: $0.00
Nonmember Fee: $0.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

Covid  

Join Greg and George as they cover the new Families First Coronavirus Relief Bill passed by the Senate on March 18, 2020. Included will be detailed computations of the credit calculations. Learn how to determine which taxpayers qualify for the credits (both employers and self-employed persons) and the limitations that apply to the credits.

They will also take a deep dive into the Federal tax consequences of presidentially declared disasters under the Stafford Act, with detailed coverage of the COVID-19 disaster declaration and Notice 2020-18.

Designed For

All CPAs

Objectives

  • Families First: Calculate the tax credits for employers and for self-employed persons. Determine which clients qualify for the credits.
  • Notice 2020-18: Calculate interest and penalties if tax isn’t paid by the Notice 2020-18. Determine which clients are best served by filing early. Determine the amount of taxes clients must pay by April 15.

Major Subjects

  • Families First:
    • Computing the payroll credit for required paid sick leave.
    • Computing the credit for certain self-employed persons.
    • Computing the credit for required paid family leave.
  • Notice 2020-18:
    • Which taxpayers are covered by the relief?
    • Are estimated tax payments deferred?
    • Are married taxpayers treated differently than single taxpayers?
    • What’s the maximum amount of taxes that an individual can defer?
    • What’s the maximum amount for corporations?
    • Are all taxes covered?
    • Do you still need to file extensions?
    • What happens if clients don’t pay by the extended deadline?
    • Are there other ways to avoid interest and penalties, if you’re not within the relief provided by the IRS Notice?
    • Also, we’ll cover the IRS FAQ’s issued 3/24/20 (and later developments)

If you would like to register for this event, please contact OSCPA at 800-255-1470, 503-641-7200, or email profdev@orcpa.org.