2022 Tax Updates for Businesses
Author: Barbara Weltman
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Law Updates for EAs and OTRPs
1 hour Federal Tax Updates for CTEC |
While many pandemic-era tax provisions came to an end, new laws enacted in 2022 create opportunities for 2022 returns as well as planning for 2023 and beyond. The Consolidated Appropriations Act, 2022, the CHIPS and Science Act of 2022, the Inflation Reduction Act of 2022, other legislation, plus new cases, and IRS guidance all affect your clients. Clients need your guidance in navigating the new tax landscape. This one-hour CPE course will provide an update on critical year-end tax steps for businesses.
Publication Date: October 2022
Designed For
All CPAs, EAs, and other tax professionals who advise business clients on federal tax issues.
Topics Covered
- Legislation, IRS pronouncements, and court decisions over the past year
- Part I: Income and Exclusions
- Part II: Deductions
- Part III: Credits and Other Taxes
- Part IV: Other Developments
Learning Objectives
- Identify the latest developments in federal taxation for businesses
- Recognize and apply recent developments to year-end tax planning
- Identify the statue of limitations on civil and criminal charges against a borrower for PPP fraud created by the PPP and Bank Fraud Enforcement Harmonization Act of 2022
- Identify the new threshold amount in 2022 for money raised through a crowdfunding platform that must be reported on Form 1099-K
- Identify the percentage of excise tax applicable to certain corporate stock buybacks starting in 2023
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
A basic understanding of tax preparation.
Advance Preparation
None
