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Monday, November 1, 2021 Live Webcast

Update on Employee Retention Credit (ERC) Guidance with Ed Zollars (E2111584)

12:00 PM - 2:00 PM EDT

Registration: 11:30 AM EDT

webcast

ON24

2.0 CPE Credits in TX

OVERVIEW

The IRS has issued two major pieces of guidance on the employee retention credit (ERC) in recent weeks, Notice 2021-49 and Revenue Procedure 2021-33, which advisers working with clients to maximize the credit they can qualify for need to understand.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

Any tax practitioner advising clients who could potentially claim the ERTC

BENEFITS

In this session we’ll look at the long-awaited IRS ruling on the ERC for shareholders holding a controlling interest, the answer to whether obtaining the credit for wages paid in 2020 will require amending 2020 income tax returns, dealing with PPP loan forgiveness when computing the revenue limits and other items covered by this guidance.

HIGHLIGHTS

  • How the bar on claiming the ERC for wages paid to relatives of direct and indirect controlling interest holders interacts with the ownership rules of IRC §267(c) to result in the no living relatives rule.
  • The IRS’s view of which income tax return(s) must have a deduction reduced for wages paid when using a Form 941-X to claim the employee retention credit.
  • The safe harbor method allowed for excluding forgiveness of PPP loans and certain other federal aid programs from gross receipts to qualify for the ERC.
  • How tips given by customers in a restaurant impact the calculation of the restaurant’s employee retention credit (and it’s news your restaurant clients will probably like).
  • What is a recovery startup business and how do you compute the employee retention credit for one?
  • Does making (or not making) the alternative quarter revenue election in one quarter bind the taxpayer for subsequent quarters?

COURSE LEVEL

Update

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTOR

Edward Zollars

Edward K. Zollars, CPA

Tax and Technology Partner

Thomas Zollars & Lynch, Ltd.

Ed is a partner with the firm of Thomas, Zollars & Lynch, Ltd, in Phoenix, Arizona. He specializes in tax issues for closely held businesses and individuals. He has served on committees with the American Institute of CPAs' (AICPA) Tax Section and currently serves on the Arizona Society of CPAs' (ASCPA) legislative tax liaison committee. Ed has published tax podcasts on tax matters and is currently producing the weekly audio and video for the Current Federal Tax Developments podcast on current tax matters for Kaplan Financial Education and the related blog with regular tax updates throughout the week. Along with writing, editing and presenting courses for the past 14 years, Ed has written articles published in Practical Tax Strategies and The Tax Adviser. He is a frequent contributor to a number of online professional tax discussion groups, including the NJCPA Member Open Forum.

PRICING

$49.00 - Member

$69.00 - Nonmember

Register Today


Note: Online pre-registration will close on November 1 at 12:00 PM.

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