Oops! Correcting 2020 Tax Reporting Errors and Biden Tax Proposals - Planning for Individuals & Business
San Diego Chapter Virtual Meeting

It has come to our attention many tax preparers are still struggling with some 2020 tax issues for their clients on extension and some are trying to make decisions related to possible amended 2020 taxes needed. To accommodate everyone we'll have two handouts for Thursday's presentation and plan on splitting the time half and half or as the group chooses. Please see below for the description of the two topics to be discussed during the meeting. 

Date:

Thursday, July 15, 2021
4:00 to 6:00 PM

Location:

Online Meeting via Zoom
This will be a Zoom Meeting. Once you register and pay the Zoom link will be provided in your confirmation email for you to log in at the designated meeting time. Zoom does require registration before entering the meeting. 

Description:

Title: Oops! Correcting 2020 Tax Reporting Errors
We’ll discuss a tax preparer’s obligation to advise the client and/or amend tax returns when errors are discovered on previously filed returns. Major tax changes and issues related to 2020 tax filing will be reviewed with advice for handling errors or missed opportunities which come to light. Tax year 2020 changes and issues include stimulus payments, unemployment compensation, NOL carry back options and election obligations, 401K and IRA distribution issues, handling PPP forgiveness loans and other COVID-19 grants, the Employee Retention Credit, the Paid Sick Leave and Paid Family Leave payroll credits, and federal and California differences related to these issues.

Title: Biden Tax Proposals - Planning for Individuals & Business
This course will review and evaluate President Biden's proposed tax changes and help us identify which of our clients may benefit the most and which may feel some pain at tax time. Consideration of the proposed Biden tax plan will help us advise clients regarding some 2021 moves they want to think about for the coming year. Moves, marriages, stocks and other investments, real estate investing, business start up, business sale or investment may all be affected by potential tax changes. Also, identify moves which may make sense as a preemptive strike before some potential tax changes. Get a feel for which provisions are most likely to pass, and which may have little chance of passage this year.

Speaker: 

CPE Information:

2 Federal Tax Update hours (Topics covering new tax law)
IRS: 18QC1-U-01468-21-O
CTEC: 1000-CE-4867

Knowledge Level: Basic (No prior knowledge expected)

Cost:

Registration Fee (Member): $20
Registration Fee (Non-Member): $50