Author Description

This course book provides an overview of specific tax issues impacting 2020 tax return preparation and tax planning in 2021. Among the topics examined are: The rules on entertainment, meals and snacks in light of changes by the Tax Cuts and Jobs Act (TCJA); Section 199A qualified business income; The federal tax consequences of presidentially declared disaster areas under the Stafford Act; The Families First Coronavirus Response Act and CARES Act; COVID-19 employment tax changes for employers and the self-employed; Tax issues involving troubled borrowers; Paycheck protection program (PPP) loans: New legislation and the impact on forgiveness; Retirement plan changes by Congress and the IRS in response to COVID-19.