The Hidden Gems of Recent Tax Legislation
The Sick and Family Leave Credits
The Employee Retention Credit
Friday, February 19, 2021
10:00 am to 1:00 pm
(3 CE credit) $75.00
Many tax professionals are unaware of the tax credits available on Payroll Tax Forms in both 2020 and 2021 due to the payment of wages to an employee impacted by Covid.
In addition, during 2020, employers could not take advantage of both PPP loans and the employee retention credit. The new tax legislation enacted in late December 2020 retroactively allows the employee retention credit in 2020 even if the employer received PPP funding. In many cases amended or corrected 941’s may be necessary to obtain these credits.
We believe that these employer credits are one of the most overlooked tax issues in 2020 due to the emphasis on the PPP program.
Taxpayers filing Schedule C, Schedule F, and partners in partnerships operating a business qualify to claim the Sick and Family Leave credits when they file their 1040 if they were off work due to Covid 19.
This is a must attend webinar if you want to be current on the latest information concerning these credits.