Understand Employee Retention Credit Under the CARES Act
Date : June 5, 2023, Duration : 90 Minutes
Speaker : Jason T. Dinesen
The Employee Retention Credit has been around for almost 3 years now but is still a source of confusion and frustration for tax professionals and clients. This webinar will help tax pros learn what they need to know about ERC so they can have conversations with their clients.
This course will also review the ERC and FFCRA credits, as well as the ability to defer employer-side Social Security taxes. We will tie everything together with a case study that includes filling out forms.
SECURE Act and CARES Act and Stimulus packages have thrown a lot of incentives and money on the table for small businesses. CPAs, Accountants, Tax Professionals, and Advisors have to look into all the aspects to serve their clients or advise their company. In the noise of PPP and its forgivability lot of other things have been overlooked, which could bear a very significant impact on your clients.
Session Highlight:
- Year-end 2022/year-beginning 2023 planning opportunities
- Step-by-step on how to qualify
- Shareholder wages
- Tax return implications of ERC
- How to make a claim
- Statute of limitations
Learning Objectives:
- To discuss the shutdown qualifier.
- To analyze the decline in gross receipts qualifier.
- To discuss what a recovery startup business is.
- To identify when a business has more than 100 or 500 employees.
- To explain the implications of having more than 100 or 500 employees.
- To identify qualifying wages for ERC.
- To discuss the implications of IRS guidance on shareholder wages
- To identify the basics of how to calculate the credit for 2020 and 2021
- To identify issues relating to PPP loans and ERC.
- To discuss tax issues relating to ERC.
- To analyze how to claim ERC.
- To identify the statute of limitations.
Benefits For Attending:
The credit existed from March 13, 2020, through the end of 2021, and even though the program is now closed, a business can still get the credit by filing amended payroll reports. This webinar will cover everything a business needs to know about the ERC.
What Will You Achieve:
This webinar will cover everything a business needs to know about the ERC and attendees will have better knowledge of Employee Retention Credits, how to file and claim these credits.
Who Should Attend:
- Business Owners
- Senior Management
- CFO & Controllers
- CPA’s & EA’s
- Human Resources professionals
- Compliance professionals
- Information Reporting Professionals
- Accountants
- Bookkeepers
- Tax Professionals
- Auditors
- Office Managers
- Managers & Supervisors
Speaker
Jason T. Dinesen
Jason Dinesen (EA, LPA) is a tax nerd,entrepreneur, tax expert and a well-known presenter of continuing education courses. Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more. He has presented over dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit and other issues relating to the modern-day household setting.
He also teaches 2 classes at Simpson College, Individual Income Tax and Business Analytics. Jason always had a knack for radio shows and has and regularly features as an anchor for Radio Iowa.
Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola. He has a big family that includes his wife, two sons, 4 cats and 2 dogs. His other hobbies include being a season ticket holder to University of Iowa football.
