ERC - Master Class - Brand New (October 2021)

BASED ON THE LATEST IRS GUIDANCE & INCLUDES 4 DETAILED CASE STUDIES

CREDITS: 2

CATEGORY: Taxation

SPEAKER: Karen Davis, EA

DATE: Thursday December 9, 2021 12PM-2PM EASTERN or On-Demand Archive (NO CPE CREDIT for On-Demand )

TIME: 12:00 P.M. - 2:00 P.M. Eastern

LOCATION: All New Pre-recorded Webinar

NOTE: There will be an opportunity to receive answers from the instructor in real-time by submitting your questions in the Q&A forum on the webinar page!

CLICK BELOW TO DOWNLOAD Q&A OF OUR PREVIOUS 941 SEMINAR

CLICK HERE TO DOWNLOAD COMPLIMENTARY Q&A

This seminar will provide a summary of where we now stand amid all the numerous changes to the ERC. The instructor will also explain how to coordinate ERC and PPP forgiveness, Form 941-X, and coordinating ERC with 2020 income tax return. Additionally, it will include 4 detailed case studies as follows:

Case Study #1 - What Not To Do: (adapted from numerous consultations and real life examples)

  • Form 7200 is for *advance* payment of the credit, not used to claim the credit
  • Reasons Form 7200 advance payment might be denied by IRS (including sample IRS letter taxpayer received)
  • Form 941 qualified wages is not for S corporation 100% shareholder and sole employee

Case Study #2 - How to claim ERC retroactively for 2020 (deep in the weeds, from client experience)

  • Determining ERC eligibility based on a seaside restaurant's partial shutdown:
    • Restaurant opened June 2019 and qualifies for the credit during 2020 because extrapolated revenue targets show "more than nominal" impact of government mandated partial shutdown starting mid-March 2020.
    • Despite continuing mandate of 50% seating capacity through 1Q 2021, seaside restaurant was not impacted, because that is a slow season anyway.

Plus 2 additional Case Studies


We have two previous 941 seminars: 1) How to amend 2020 Q2-4, click here to register. 2) Form 941 2021 Q1-3, click here to register.

All attendees will receive COMPLIMENTARY access to review our original Form 941 seminar on 2020 Q3&Q4 (2 hours, no cpe) in addition to this new seminar.

Topics & Learning Objectives Include:

  • 4 Case Studies
  • How to Coordinate ERTC and PPP Forgiveness (spreadsheet math)
  • Form 941-X
  • Coordinating With 2020 Income Tax Return: 
    • Tips count as wages for ERTC payroll tax credit, even though employer also gets tip credit on income tax return
    • Must amend 2020 income tax return to reduce compensation expense.
  • And Much More

Click On The Video Below To View A Demo of Karen Davis

Karen Davis is one of the most knowledgeable tax lecturers in the nation. She has the ability to simplify the most complex tax rules. Bring in all your tax questions and get a CORRECT answer.

  • Program Level: Overview
  • Prerequisites: Basic Knowledge of ERC
  • Advance Preparation: None Required
  • $115.00 $89.00
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