June 11, 2021 10:00am – 11:40am Map & Directions 602-252-4144

Webcast: Employee Retention Credit 2021

Online registrations are currently closed, please call (602) 324-6847 for additional registration options

Description

The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTRA) enacted on December 27, 2020, retroactively made available to taxpayers who had participated in the Payroll Protection Loan program the right to obtain benefits under the CARES Act Employee Retention Tax Credit for 2020. It also extended that benefit to the first half of 2021 and made the maximum credit much larger. In March Congress extended that benefit through to the end of 2021, and made it available to any start-up business.

Although the credit can represent a substantial amount of tax relief for qualified businesses, the program has different sets of rules that apply for different periods. There is also a need to determine the optimal strategy for obtaining full forgiveness for Paycheck Protection Program loan relief while obtaining the largest possible tax credit. In this course we’ll help you understand the nuances of each version of the program, the interaction with the Paycheck Protection Program loan forgiveness application process and how to file the claims for refund to obtain credit for prior eligibility period.

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

9:30am

Fees

Member:
$75
Non-CPA Staff:
$101
Non-CPA Staff (100% club):
$75
Non-CPA Staff (sole proprietor):
$75
Non-Member:
$101
Webcast
Taxation
2

Objectives

  • The original Employee Retention Tax Credit for 2020
  • Limits on wages per employee
  • Time periods when the employer qualifies in 2020
  • The 2021 quarter one and quarter two versions of thecredit
  • The significant increase in maximum wages eligible for the credit
  • The major change in the reduced revenue test that makes it easier to qualify for the benefit
  • The new small employer rule that increased the number of employees from 100 to 500
  • The 2021 quarter three and four credit revisions
  • The tax benefit available to most employers who began business after February 15, 2020
  • Expanded relief for large employers who had a morethan 90% reduction revenue
  • The mess that is bar on claiming the credit for employees with certain relationships those with a direct or indirect controlling ownership interest
  • How to both apply for any refunds the client is entitled to, as well as get a current reduction in payroll tax deposits
  • Course Level

    Intermediate

    Vendor

    Kaplan Development Group More With This Vendor

    Designed For

    Tax, accounting, financial professionals.

     

    Prerequisites

    Basic auditing, accounting and tax experience.

    Event Leaders

    Zollars, Edward K.

    Rating: 4.85


    Edward K. Zollars, CPA, is in public practice in Phoenix, Arizona as a partner with the firm of Thomas, Zollars & Lynch, Ltd. He has been in practice for more than 35 years, specializing in tax issues for closely held businesses and individuals.

    Zollars has been professionally involved with both tax and technology issues, combining the two disciplines in producing the Current Federal Tax Development Update Podcast and website, dealing with current tax issues. He has been a member of AICPA Tax Division Committees focusing on tax and technology issues and was the Tax Section’s representative on three occasions to the AICPA’s Top Ten Technologies project. He is also a member of the Phoenix Tax Workshop’s Advisory Committee and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs. Zollars was selected as a Life Member by the Arizona Society of CPAs in May, 2010.

    Along with writing, editing and presenting courses for Loscalzo Institute, Zollars has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA’s Accountants Forum in the mid-1990s.

    He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state societies of CPAs.


    More With Zollars, Edward K.

    Highlights

     

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