Tax Changes Impacting Financially-Distressed Individuals and Businesses (CIFD)

  • 3
  • Update
  • Taxes

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Overview

The Families First Coronavirus Response Act (FFCRA) includes the Emergency Paid Sick Leave Act (EPSLA) and the Emergency Family and Medical Leave Expansion Act (EFMLEA), which is an expansion of the existing Family Medical Leave Act (FMLA). These provisions provide sick leave and family leave credits to certain employers who pay employees impacted by the coronavirus pandemic. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides emergency tax and financial assistance for individuals, families, and businesses affected by the coronavirus pandemic

This program covers the FFCRA and CARES Act changes of immediate relevance to tax practitioners.  We will cover the major legislative developments to the extent relevant at the time of course delivery and will update programmatic content with new developments up to the point of delivery.

Major Topics:

  • Paycheck Protection Program developments
  • Sick leave and family medical leave
  • The Employee Retention Credit
  • Federal Pandemic Unemployment Compensation
  • Individual credit/rebate
  • Individual tax changes
  • Business tax changes
  • Tax filing and tax payment due dates

Learning Objectives

Advise clients with respect to recent legislation related to the coronavirus pandemic

Any tax practitioner advising individual or business clients

Previous experience with individual tax law

None

Yes

Yes

Varies by state. Check back soon for details