This course explores the tax provisions included in the Infrastructure Investment and Jobs Act (IIIJA), enacted in early November, as well as individual tax provisions currently included in the Build Back Better (BBB) Act, currently in Congress. In addition, the course discusses other important 2021 tax legislation related to individual taxpayers.
BENEFITS
- Be familiar with individual related tax changes for 2021
HIGHLIGHTS
- IIJA tax related provisions, including the termination of the Employee Retention Tax Credit and mandated cryptocurrency reporting
- Build Back Better provisions currently proposed
- Medicare coverage for hearing care
- Conservation easements
- Coronavirus related distributions (CRDs)
- Accessing the child tax credit in 2021
- 2021 rules for the child and dependent care credit
- COBRA health insurance cover in 2021
- Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs)
- Qualified disaster-related distributions from qualified plans
PREREQUISITES
A working knowledge of individual income tax rules