Surgent's Emerging Tax Issues of the New Coronavirus Stimulus Package: An In-Depth Analysis

The Consolidated Appropriations Act (CAA), 2021 contains many newly enacted changes to the Internal Revenue Code and to the Small Business Administration’s PPP loan program. As the relevant tax details continue to emerge, Surgent brings you this new 3-hour webinar, providing everything you need to know about this complex legislation. This course provides in-depth coverage of the technical changes critical to tax practitioners, including PPP loan forgiveness, stimulus checks, supplemental unemployment, and much more.

Objectives:

• Be familiar with the new tax changes and PPP loan rules contained in the CAA

Topics:

• Businesses and other entities eligible for forgiveness loans under the new PPP loan program
• Changes to PPP loan relief applications, including a simplified loan forgiveness process for loans of $150,000 or less
• Basis increases for tax-exempt income associated with PPP loan forgiveness
• Deductibility of eligible business expenses funded with a PPP loan
• Changes to the Employee Retention Credit
• Federal supplemental unemployment insurance benefits
• Additional stimulus checks for individuals
• Other CAA tax changes impacting individuals and businesses

Designed for:

Any tax practitioner advising clients with respect to new legislative developments

Level: Update

Instructor: Mike Tucker, Ph.D., LL.M., J.D., CPA

CPE Credits: 3

Area of Study: Taxes (Technical)

Prerequisite: Basic knowledge of individual income tax rules