Course Description

Whether you are an experienced veteran or new to the industry, one of the toughest parts of being a tax practitioner is keeping up with all of the changes in tax legislation. The Keeping Up with the Tax Code series takes a look at recent changes to tax law from a practitioner perspective. We don’t just hurl code sections at you without explanation. Using examples, problems, and plain explanations, we explore a mix of new tax issues and areas of the code that tend to be misunderstood in a practical and straight-forward way. In this session, we will explore the employee retention credit and some of the more recent guidance, especially in the area of supply chain disruptions. We will discuss why you might still need to file a prior year income tax return due to an ERC claim, as well as the new IRS ERC withdrawal programs.

Learning Objectives

  • State which taxpayers qualify for the employee retention credit (ERC)

  • Identify when it may be advantageous for a taxpayer may need to amend Form 941

  • Recognize which taxpayers qualify for the IRS ERC Withdrawal Programs

Additional Required Materials

  • Level: Update

  • Field of Study: Taxes (NASBA); Tax Planning (CFP); Federal Taxation (IRS)

  • Who Should Attend: CPAs, EAs, and Financial Advisors who advise on business income tax issues.

  • Required Knowledge: Basic knowledge of federal business income taxation

  • Advanced Prep: None

Instructor