CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

All New and Current customers who purchase the Premium, Plus, or Core (Total Value Package) 2021 Federal Tax Update or the 2021 Federal and California Update will get the Tax Advisory Complement Bundle for free.

NOTE:

  • New Federal Tax Update customers will get an immediate email with a coupon code for the free course once their Tax Update purchase is complete.
  • Current Customers that purchased the Premium, Plus, or Core (Total Value Package) 2021 Federal Tax Update will get an email with a coupon code to get the Tax Advisory Complement Bundle for free.

Economic Stimulus Legislation: Federal Response to COVID-19

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), legislation designed to provide economic relief for those impacted by COVID19, became law. This course provides a general review of the principal provisions of the CARES Act and of other federal tax-related stimulus legislation passed during 2020, including the Tax Relief Act of 2020 signed into law on December 27, 2020.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize the nature and amount of recovery rebate authorized under the CARES Act;
  • Apply the recovery rebate eligibility limitations;
  • Calculate the amount of rebate based on a taxpayer’s adjusted gross income and filing status;
  • Describe the rules applicable to the Paycheck Protection Program, including those related to:
    • Eligibility,
    • Maximum loan amounts, and
    • Forgiveness criteria;
  • Identify the rules governing the Pandemic Unemployment Assistance program, including
    • The additional unemployment benefits available,
    • The eligibility requirements,
    • The tax treatment of benefits, and
    • The credit for employee retention.

Chapter 2

  • Identify the changes in deductible charitable contribution rules;
  • Describe changes made to qualified plan loans;
  • Recognize the early distribution tax penalty changes for coronavirus-related distributions;
  • Apply the rules governing the tax treatment of coronavirus-related withdrawals;
  • Describe the tax treatment governing repayment of IRA and qualified plan withdrawals;
  • Identify the changes to required minimum distributions (RMDs) applicable to 2020; and
  • Recognize the net operating loss carryover rules.

Chapter 3

  • Describe the health savings account (HSA) exemptions for telehealth services,
  • Discuss changes made to qualified medical expenses,
  • Identify the changes made to high deductible health plans (HDHPs) with respect to first-dollar payment of COVID-19 related testing and treatment expenses;
  • Recognize the extension available with respect to Section 911 exclusion of foreign earned income;
  • Describe the changes made to the tax treatment of tuition and related expenses;
  • Identify the Section 1031 time-sensitive action deadlines; and
  • Describe the CARES Act provisions affecting businesses, including the –
    • Correction regarding the deductible period applicable to qualified improvement property,
    • Modification of limitation on losses for non-corporate taxpayers,
    • Changes to the limitation on business interest expense deductions,
    • Exclusion of certain employer payments of student loans, and
    • Expansion of economic injury disaster loans (EIDLs).

Chapter 4

  • Describe primary objective of the Coronavirus Preparedness and Response Supplemental Appropriations Act
  • Identify the principal intent of the Families First Coronavirus Response Act (FFCRA)
  • Recognize the impact of the Paycheck Protection Program and Health Care Enhancement Act.
  • Describe the principal individual income tax-related provisions of the American Rescue Plan Act of 2021.

Course Specifics

Course ID
8202716
Revision Date
April 1, 2021
Number of Pages
72
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01614-20-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1510
CTEC Federal Tax Law Credits: 2

Course Instructor

Paul J. Winn Headshot
Paul J. Winn CLU ChFC

Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.

Economic Stimulus Legislation: Federal Response to COVID-19

Expert Instructors
Format
CPE CREDITS
2 Credits: Taxes

$58.00$78.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), legislation designed to provide economic relief for those impacted by COVID19, became law. This course provides a general review of the principal provisions of the CARES Act and of other federal tax-related stimulus legislation passed during 2020, including the Tax Relief Act of 2020 signed into law on December 27, 2020.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize the nature and amount of recovery rebate authorized under the CARES Act;
  • Apply the recovery rebate eligibility limitations;
  • Calculate the amount of rebate based on a taxpayer’s adjusted gross income and filing status;
  • Describe the rules applicable to the Paycheck Protection Program, including those related to:
    • Eligibility,
    • Maximum loan amounts, and
    • Forgiveness criteria;
  • Identify the rules governing the Pandemic Unemployment Assistance program, including
    • The additional unemployment benefits available,
    • The eligibility requirements,
    • The tax treatment of benefits, and
    • The credit for employee retention.

Chapter 2

  • Identify the changes in deductible charitable contribution rules;
  • Describe changes made to qualified plan loans;
  • Recognize the early distribution tax penalty changes for coronavirus-related distributions;
  • Apply the rules governing the tax treatment of coronavirus-related withdrawals;
  • Describe the tax treatment governing repayment of IRA and qualified plan withdrawals;
  • Identify the changes to required minimum distributions (RMDs) applicable to 2020; and
  • Recognize the net operating loss carryover rules.

Chapter 3

  • Describe the health savings account (HSA) exemptions for telehealth services,
  • Discuss changes made to qualified medical expenses,
  • Identify the changes made to high deductible health plans (HDHPs) with respect to first-dollar payment of COVID-19 related testing and treatment expenses;
  • Recognize the extension available with respect to Section 911 exclusion of foreign earned income;
  • Describe the changes made to the tax treatment of tuition and related expenses;
  • Identify the Section 1031 time-sensitive action deadlines; and
  • Describe the CARES Act provisions affecting businesses, including the –
    • Correction regarding the deductible period applicable to qualified improvement property,
    • Modification of limitation on losses for non-corporate taxpayers,
    • Changes to the limitation on business interest expense deductions,
    • Exclusion of certain employer payments of student loans, and
    • Expansion of economic injury disaster loans (EIDLs).

Chapter 4

  • Describe primary objective of the Coronavirus Preparedness and Response Supplemental Appropriations Act
  • Identify the principal intent of the Families First Coronavirus Response Act (FFCRA)
  • Recognize the impact of the Paycheck Protection Program and Health Care Enhancement Act.
  • Describe the principal individual income tax-related provisions of the American Rescue Plan Act of 2021.

Course Specifics

Course ID
8202716
Revision Date
April 1, 2021
Number of Pages
72
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01614-20-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1510
CTEC Federal Tax Law Credits: 2

Course Instructor

Paul J. Winn Headshot
Paul J. Winn CLU ChFC

Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.

Economic Stimulus Legislation: Federal Response to COVID-19

Expert Instructors
Format
CPE CREDITS
2 Credits: Taxes

$58.00$78.00

Clear