Tax Implications of Buying and Selling Real Estate_Rec2022

What are the exact recent tax law changes which impact the preparation of 2021 tax returns? There are plenty affecting Forms 1040, 1065, 1120S, 1041, 1120, 941 and so on. This course dives into 2021 law changes and tunes you up to make you a well operating machine for tax season.Impacts of recent legislation (Con App 21 and Rescue Act (ARPA)) on 2021 returnsChanges to IRS Forms that may reach out to bite youIRS again tweaks requirements for Form 1065 K-1 tax capital account reportingNew sticky wickets: Child tax credit advances, economic impact payments, premium tax creditsMassive overhaul to earned income tax credit rules (that no one can step over)Employee retention credit interaction with income tax returnsAmended return mania re: in which year to place PPP debt relief incomeIRS changes up the virtual currency question – What we all must knowFFCRA employment tax credit interaction with income tax returnsNew adventures in reporting effects of federally declared disastersExamples: How to complete Forms 941 and 941-X for employee retention creditNuances in completing Schedules K-1 (for 1065, 1120S and 1041)IRS practice considerations re: protecting statutes of limitations & other deadlinesTax planning in the face of it all