Surgent's New Developments Regarding the Employee Retention Tax Credit

Course Details

Date

Monday, October 11, 2021

8:00am – 10:00am

Field of Study

Taxation

Course Number

SU0255

CPE Credit

2.0 hours CPE credit

Level of Knowledge

Basic

Vendor

Surgent McCoy CPE, LLC

Prerequisites

None

Description

The Employee Retention Tax Credit (ERTC) was expanded from its original 2020 version to a more robust version of itself in 2021, and additional changes apply for the last two quarters of 2021. The ERTC is a refundable tax credit that encourages businesses to keep employees on their payroll and is worth up to $5,000 per employee in 2020 and up to $7,000 per employee per quarter in 2021. To encourage small businesses to invest in new opportunities, Congress expanded the ERTC for businesses that have recently started a new trade or business and those that will do so before the end of 2021. Under the recovery startup provision, qualified small businesses can claim up to $100,000 in Q3/Q4 of 2021. Quite recently, the IRS addressed some of the practical compliance questions tax practitioners had about this credit. This webinar explores all of the latest developments related to the ERTC that practitioners need to advise clients regarding this continually changing provision. The course also includes the latest ERTC updates as related to the new infrastructure legislation.

Highlights

How to qualify for the ERTC in 2020 and 2021
How to measure a significant decline in quarterly revenues for 2020 and 2021
Rev. Proc. 2021-33: safe harbor permitting employers to exclude certain amounts from gross receipts for ERTC purposes
IRS Notice 2021-49: addressing tax practitioner concerns relating to the ERTC
Full and partial government shutdowns
Small and large eligible employers
Value of the ERTC in 2020 and 2021
The recovery start-up opportunity for those taxpayers beginning a new trade or business after February 15, 2020 that have annual gross receipts of no more than $1 million for 2018-2020
Coordinating PPP loan forgiveness with wages that may be claimed for the ERTC
How to claim the ERTC

Objectives

Effectively advise clients seeking to claim the ERTC

Designed For

Any tax practitioner advising clients who could potentially claim the ERTC

Registration for this course has passed.

Course Pricing

Member Fee Applicable if you are a HSCPA member in good standing.	$89.00
Non-Member Fee Applicable if you are not a HSCPA member.	$139.00
Your Price	$139.00