Tax Implications of the New American Rescue Plan Act: Key Considerations for Individual and Business Taxpayers

Planning Opportunities and Challenges for Taxpayers Under the Biden Administration Stimulus Relief Bill

A live 90-minute premium CLE/CPE video webinar with interactive Q&A


Thursday, May 13, 2021

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

or call 1-800-926-7926

This CLE/CPE webinar will provide tax professionals and advisers with guidance on the new American Rescue Plan Act. The panel will discuss essential next steps for taxpayers, obtaining the employee retention payroll tax credit, key issues for self employment taxes, rules for NOLs, and other key items in light of the new relief bill.

Description

On Mar. 11, 2021, President Biden signed the American Rescue Plan Act (the Act), which provides various tax provisions impacting both business and individual taxpayers. Tax professionals and advisers must identify key provisions and related challenges and implement strategies for taxpayers.

The Act provides pandemic relief funding for individuals, businesses, and state and local governments, including a new "Restaurant Revitalization Fund" and a new round of Paycheck Protection Program funding. It also expands the Earned Income Tax Credit, the Child Tax Credit, and the Employee Retention Credit.

Tax professionals must acquire detailed knowledge of certain tax provisions impacting taxpayers, challenges in obtaining available credits and deductions, reporting requirements, and other key items.

Listen as our panel discusses essential next steps for businesses and individual taxpayers and key tax implications stemming from the Act.

READ MORE

Outline

  1. Key provisions for businesses
    1. Employee Retention Credit
    2. Payroll Tax Credit
    3. Employer compensation deductions
    4. State Small Business Credit Initiative
    5. COBRA
    6. Reporting requirements
  2. Key provisions for individuals
    1. Credits
    2. Rebates
    3. RMD
    4. NOL
    5. Dependent care and health insurance
  3. Business grants and loan programs
  4. Other provisions and best practices for taxpayers

Benefits

The panel will review these and other key issues:

  • What are the key tax provisions of the American Rescue Plan Act?
  • What are the challenges for claiming the employee retention payroll tax credit?
  • How does the new Act impact the self employed?
  • What are the next steps for both businesses and individual taxpayers?

Faculty

Mayo, Daniel
Daniel Mayo, JD, LLM

Principal
Withum Smith+Brown

Mr. Mayo has more than 20 years of professional tax experience as well as experience in federal, international and...  |  Read More

Additional faculty
to be announced.
Attend on May 13

See NASBA details.

Cannot Attend May 13?

You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. CPE credit is not available on recordings. Strafford will process CLE credit for one person on each recording. All formats include program handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

Download