The 2020 stimulus bill was signed on Dec. 27, 2020, and includes major tax provisions that will be effective for the 2020 tax year. Hear about the many details and changes that CPAs and tax preparers need to know now. Identify and understand the latest developments and major tax law provisions impacting 2020 tax returns for both individuals and business taxpayers. Apply useful strategies to assist in the tax preparation process. Get examples and case problems to illustrate and explain the law provisions.

Highlights

• PPP2 - The next round of the Paycheck Protection Program and how it integrates with PPP1
• PPP1 and PPP2 related deductions
• Stimulus payments for individuals, including dependents
• Expanded and refundable child care credit
• Credits for child care providers
• Employer credit for child care payments
• Employee retention credit for domestic workers
• Child and family care for essential workers
• Extended unemployment period and additional payment
• Extensions of prior legislation: mortgage loan forgiveness, interest deduction, energy provisions, depreciation of special assets
• And much more!