9032020 1.00

Author: Steven D. Mercatante

CPE Credit:  1 hour for CPAs
1 hour Federal Tax Law Updates for EAs and OTRPs
1 hour Federal Tax Updates for CTEC

The country is facing an unprecedented health and economic emergency due to COVID-19. Because time is of the essence this webcast provides Partnerships, Non-Profits, Practices, and Other Organizations as well as CPA’s with plain English guidance to help access recently released federal grants and loans under the March 27, 2020 CARES ACT. Many of these provisions, including available grants that you do not have to repay, are on a first-come basis.

Publication Date: May 2020

Topics Covered

  • Selecting the proper CARES Act provisions that apply to your organization
  • Registration and Application Tips
  • Best practices to ensure CARES Act success in obtaining relief
  • Additional guidance on how to get help and latest updates and changes in the law

 

Learning Objectives

  • Identify federal programs that can get your organization money in as little as three days to meet payroll, pay rent, mortgages, pay vendors and service providers that otherwise cannot be paid, and how to meet more such obligations exacerbated by loss of revenue
  • Recognize how to respond when time is of the essence
  • Identify strategies to prepare for a first-come-first-serve application process that includes the availability of non-resource grants (meaning you do not have to pay money received from the federal government back) that your organization can access under relief provided by the new law
  • Recognize how to avoid fines and what requirement you need to meet to submit a valid claim
  • Describe best practices for documenting need and establishing reasonable cause for your financial assistance requests
  • Recognize what forms you need to file to access governmental assistance and how to file them
  • Identify steps you can take to protect your organization or clients during these difficult times and help assist its survival using federally available funds

 

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
Basic understanding of tax preparation.

Advance Preparation
None

Additional Course Details

  • Publisher: Wolters Kluwer
  • Pre-Requisites: None
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