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What Advisors Need to Know About the New Stimulus Bill

  • 01/19/2021
  • 12:00 PM - 2:00 PM


Registration is closed
In response to the coronavirus (COVID-19) pandemic, Congress passed new stimulus relief to bring the resources of the federal government to protect the health and well-being of all Americans. This bill provides several key provisions for taxpayers, including direct economic relief for workers and families, an additional $284.5B for small businesses, and guidance around the deductibility of expenses with forgiven PPP funds. The best way for advisors to prepare for this important development is to join Bob Keebler in this webcast where he will review all of the critical issues you’ll need to master to quickly and competently advise your clients.

Learning Objectives: 

    *Identify how the new tax provisions will work for taxpayers

    *Recognize the types of taxpayers impacted

    *Identify the details of the new benefits available

    Topics Discussed: 

    *Direct economic relief for workers and families

    *Unemployment benefits

    *Rental assistance

    *Childcare assistance

    *Corporate meal expense deduction

    *The total deductibility of expenses satisfied with forgiven PPP funds are provided for in the bill

    *An additional $284.5B of forgivable “second-draw” PPP loans for small and “hard-hit” businesses

    *The new quarterly revenue rule to even quality for a second PPP loan

    *Expanded eligible expenses

    *Simplified forgiveness applications

    *Simplified covered period rules

    *How to increase prior loans because of regulatory changes

    *Special rules for farmers and ranchers

    Level: Basic

    Instructor: Robert S. Keebler

    Developer: AICPA

    CPE Credits: 2

    Area of Study: Taxes 

    Prerequisite:  None

    Who Should Attend: CPAs, tax professionals, Sole practitioners, Small/medium business owners, Other qualified professionals

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