• Extensive coverage of the PPP loan forgiveness qualifications and the applicable forms
• Detailed discussion of the “tax basis” Schedule K-1 required capital accounts and their reporting implications
• Implications for self-employed taxpayers of various legislation including the new Form 7002 and the changes to the Form 1040 Schedule SE
• Flow-through entities deduction (Section 199A) changes, including use of carryforward passive activity and 199A losses and new IRS worksheet
• Legislative update and integration of the CARES Act and other 2020 tax legislation.
• Update on significant individual tax developments related to earlier legislation.
• Update on significant business tax developments related to earlier legislation.
• Individual cases and rulings developments.
• Business cases and rulings developments.
• 2021 tax rate schedule and other inflation adjusted items
• New employer paid parking rules and regulations
• Tax forms update: individual, S corporation, and partnerships
• Depreciation update: Section 179 and 168(k)
• Passive activity and hobby loss rules changes

CPAs in public practice, members in industry, and other accounting professional seeking the latest update on recent IRS developments impacting both individual and business taxpayers.