Instructor for this course
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This has been a crazy tax year, with IRS shut-downs, COVID19 business closures, and job losses, and a new tax law being passed every time you blink - several, over-riding previous laws passed during the year. This course is designed to help you make sense of the laws that affect 2020 - and to help you do planning with your clients for 2021.

Learning Objectives

  • Explore and review a summary of 2020 legislation.
  • Identify the 2020 deductions, credits and limits - for preparation of the 2020 tax returns.
  • Discover the available 2021 deductions, credits and limits - for 2021 tax planning.
  • Identify the difference between the SBA loans and forgiveness provisions.
  • Recognize IRS curtailed operations during this pandemic.
Last updated/reviewed: March 21, 2021

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  3:45Introduction to Tax Update in the COVID19 World and in the December 2020 Consolidated Appropriations Act
  12:57Major Tax Legislation and Key Extenders
  13:20Filling Deadlines, Routine Annual Updates and Stimulus Payments
  16:26Form 1040 Update and Tax Credit Updates
  13:56Other Tax Credit Updates and Adjustment to Income
  14:20Itemized Deduction and Retirement Benefits under COVID 19
  13:56Itemized Deduction and Retirement Benefits under COVID 19 Cont'd
  16:01Tax Benefits
  14:35Employee Benefits
  15:20SEC 529 Updates, Gifts, Estates and Trust
  16:26Kiddie Tax and CARES Act
  13:56Form 7200 and CARES Act Retirement Issues
  14:13Business Related Updates, Vehicles and Depreciation Issues
  16:30Listed Property Updates and Foreign Tax Issues
  19:58SBA Loans-EIDL and PPP and Taxpayer Relief Initiative
CONTINUOUS PLAY
  3:35:39Tax Update in the COVID19 World and in the December 2020 Consolidated Appropriations Act
SUPPORTING MATERIAL
  PDFSlides: Tax Update in the COVID19 World and in the December 2020 Consolidated Appropriations Act
  PDFTax Update in the COVID19 World and in the December 2020 Consolidated Appropriations Act Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM