Essential Tax Season Update

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Event Details

Wednesday, January 13, 2021

1:00pm – 5:00pm
(Registration: 12:30pm)

Field of Study

  • Taxes

CPE Credit

4 hours CPE credit

Course Code



Level of Knowledge



Montana Society of CPAs


Basic knowledge of individual income tax rules.


Just when you thought you were ready for tax season, Congress drops the Consolidated Appropriations Act (CAA), 2021 bomb! Signed into law on December 27, 2020 it affects a significant number of taxpayers retroactively and in material ways.

The Act contains many changes to the Internal Revenue Code and to the Small Business Administrations PPP program. As relevant details continue to emerge, Surgent brings you this new 4 hour live virtual course providing what you need to know about this complex legislation and how it relates with the Cares Act provisions.

Also included are relevant provisions of the Secure Act. These major pieces of legislation were all enacted in the last 13 months and the provisions are, Must Know and Must Know Now.


  • Businesses and other entities eligible for forgiveness loans under the new PPP loan program
  • Changes to PPP loan relief applications, including a simplified loan forgiveness process for loans of $150,000 or less
  • Basis increases for tax-exempt income associated with PPP loan forgiveness
  • Deductibility of eligible business expenses funded with a PPP loan
  • Changes to the Employee Retention Credit
  • Federal supplemental unemployment insurance benefits
  • Additional stimulus checks for individuals
  • Other CAA tax changes impacting individuals and businesses
  • The SECURE Act, including RMD changes, the elimination of the stretch IRA, modification of the kiddie tax rules, and expansion of 529 plans and 401(k) retirement plans for part-time workers
  • The CARES Act and FFCRA, including employer tax credits, SBA loans, and EFMLEA and EPSLA expanded leave programs
  • The CARES Act changes to 163(j), 461(I), and NOL rules


  • Be familiar with the new tax changes and PPP loan rules contained in the CAA
  • Understand the latest enacted tax law changes
  • Understand strategies and techniques to use in light of tax changes

Designed For

CPAs who need to know the latest tax law changes in all areas of practice.

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