2 Credits: Taxes
The Employee Retention Credit (ERC) came in three waves: CARES Act, Taxpayer Certainty and Disaster Relief Act of 2020, and American Rescue Plan Act.
- First, the ERC was created by the CARES Act to allow eligible employers a refundable credit of 50% of qualified wages paid from March 13, 2020 through December 31, 2020.
- Second, the Taxpayer Certainty and Disaster Relief Act of 2020 (TCDRA) extended the ERC to June 30, 2021, retroactively removed the restriction on PPP borrowers, and increased the percentage of qualified wages to 70% in 2021.
- Third, the American Rescue Plan Act (ARPA) added IRC §3134 which extended the ERC from July 1, 2021 through December 31, 2021 and added multiple new provisions. This wave crashed early with the Infrastructure Investment and Jobs Act, terminating the ERC as of September 30, 2021 for most employers.
Upon completion of this course, participants will be able to:
- Learn which employers are eligible, how to calculate and claim the credit;
- Understand the impact of other programs and credits on the employee retention credit;
- Review IRS guidance; and
- Understand professional responsibilities under Circular 230.
September 11, 2023
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02365-23-O
IRS Federal Tax Law Credits: 2
CTEC Course Number: 2071-CE-1930
CTEC Federal Tax Law Credits: 2
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Mark Seid, EA, CPA has over 25 years of experience in field of taxation focused on tax controversy. A National Tax Practice Institute graduate, Mark is admitted to practice before the U.S. Tax Court. He has served as an Internal Revenue Agent with the IRS in San Jose and San Luis Obispo, California, a state director for the California Society of Enrolled Agents, and the chair for the society’s Finance and Budget committee. He regularly presents courses to tax professionals on issues affecting small businesses.