CPAR Taxes

CPAR - 2021/April, Seg 4 - ARPA, Tax Program Extensions, Deductibility Under CAA, and More

In the beginning of 2021, Congress was busy working on the American Rescue Plan Act (ARPA), a $1.9 trillion bill known as Stimulus 3.0. The bill was signed into law on March 11, 2021. It is the third Economic Impact Payment to eligible individuals as well as small businesses. At the same time the IRS was working, and still is, on several tax provision extensions and keeps issuing new guidance. Barbara Weltman, president of Big Ideas for Small Business, begins our discussion with ARPA and then continues with an update on various program extensions and their tax impact. Barbara also talks about income and losses from business activities, discharge of indebtedness, FSAs for 2021 and expense deductibility under CAA, and more.

Learning Objectives:

  • Identify when and if essential businesses can be considered having full or partial suspension due to government order;
  • Recognize the main areas where income and losses from business activities raise interesting questions from taxpayers;
  • Determine the factors distinguishing a hobby vs. a business; and
  • Determine when a credit can be taken for research activities and what falls under qualified research expenses.

Prerequisites/Advanced Preparation:

Work experience in tax planning or tax compliance, or an introductory course in taxation.

Speaker / Author:

Barbara Weltman
A nationally recognized expert in taxation, Barbara Weltman has built her reputation around providing timely advice and accurate analysis on business tax matters. As a tax and business attorney, Barbara has the up-to-the-minute knowledge that business managers need to get - and to stay - ahead. She is the top-selling author of numerous books on taxation and finance, including J.K. Lasser’s Small Business Taxes. Business executives also know Barbara from her appearances on Financial Management Network, from her popular radio show and as publisher of “Idea of the Day.” By subscribing to “This Week in Business Taxation,” you can share Barbara Weltman’s insights into recent business tax developments 20 times each year.


Price (USD)

Standard: $69.90


Course Code : CPAR1507-FM

Release Date : 04/28/2021
Expire Date : 06/12/2022
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Taxes

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