The third coronavirus bill passed by Congress contains numerous provisions related to COVID-19 relief, including a number of tax provisions. This session will look at tax-related provisions. At the time this description was written, such provisions in the Senate passed version of the bill include, among others:
Payments to individual taxpayers, with phase-out for higher income taxpayers.
Special rules for distributions from retirement plans related to COVID-19, extended rollover rules and expansion of maximum borrowing from employer plans.
Delay in required minimum distributions.
Ability to delay deposit of employer portion of payroll taxes for 2020, with amounts paid over two years.
Fix for the "retail glitch" related to qualified improvement.
Temporary restoration of net operating loss carry-backs, along with other modifications of NOL and business loss rules.
Along with a number of other changes found in the bill. Join Ed for this fast-paced one hour overview of these provisions.
Does not qualify for CPE