The Coronavirus has wreaked economic havoc and Congress, as well as the IRS, have needed to act swiftly with regards to tax laws. As of March 28, 2020, President Donald Trump signed the CARES (Coronavirus Aid, Relief, and Economic Security) Act. This course will discuss the tax and liquidity planning in response to the CARES Act. The IRS has postponed some deadlines, but not all. You will be equipped with navigating the many questions surrounding the deferral of 2019 tax payments. Additionally, a Families First Act has been signed, providing a stimulus package for those affected financially by the Covid‐19 pandemic. This course will detail the IRS’s rapidly changing approach to collections, statute of limitation protections, and operations. By the end of this course, you will know how these new and sudden changes affect your clients and enable you to answer the many questions they may have as a result of these changes.
Because the details surrounding the Coronavirus are uncertain, the legislation is ever‐changing. The information in this course is intended to provide information on new legislation that has been put in place up until this point. As any potential major changes occur, those who take this program will be kept up to date.
At the end of this course, you will be able to:
CPAs, EAs, and financial professionals