COVID-19 Resources for CPAs, Enrolled Agents, and Tax Professionals

The Information You Need to Help Your Clients Now

As the world continues to respond to the devastating and wide-ranging impacts of the COVID-19 pandemic, governments have scrambled to enact legislation and authorize numerous other changes to help businesses and individuals get through the crisis. This has resulted in an overwhelming amount of new information for CPAs, EAs, and other financial and tax advisers to sort through and understand.

Rest assured that Surgent stands ready to help you navigate these complex, challenging, and quickly changing times. Since the crisis began to emerge, our experts have been analyzing and distilling all of the legislation, executive orders, and other rules to bring you the information you and your clients need as quickly as possible.

The following CPE courses provide the most comprehensive and up-to-date information available about the tax, legal, and other financial impacts of COVID-19. Additional free resources and FAQs are also listed below the courses on this page. Please check back frequently, as we will continue to develop new courses and other content to help you and your clients as the situation continues to evolve.

Course Overview Summaries

The American Rescue Plan Act of 2021 and IRS Notice 2021-20: New Stimulus Coverage and Changes to PPP Loan Forgiveness/Employee Retention Tax Credit (STM1)
This program will cover two critical topics that every practitioner must know about immediately: the new American Rescue Plan Act of 2021 (ARP) and new IRS rules relating to PPP borrowers who are also eligible for the Employee Retention Tax Credit (ERTC). Signed into law by the President on March 11, the ARP contains many new items, including significant changes that all practitioners need to be aware of right away. The first half of our program will cover the ARP to the extent it addresses tax changes and new tax developments. The second half of our program is an analysis of IRS Notice 2021-20, which covers new IRS rules applicable to tax year 2020, relating to taxpayers who have PPP loans and who also are eligible to claim the ERTC. Notice 2021-20 is over 100 pages in length and addresses many of the questions tax practitioners have regarding the interaction between PPP loan forgiveness and the ERTC. The program will cover helpful examples and FAQs that address many situations we simply did not understand until the IRS issued this Notice.

IRS Notice 2021-20: Changes to PPP Loan Forgiveness and the Employee Retention Tax Credit (IRN2)
This program will cover a critical topic that every practitioner must know about immediately: new IRS rules, applicable to tax year 2020, relating to PPP borrowers who are also eligible for the Employee Retention Tax Credit (ERTC). These new rules are contained in IRS Notice 2021-20, which is over 100 pages in length and addresses many of the questions tax practitioners have regarding the interaction between PPP loan forgiveness and the ERTC. This program will cover helpful examples and FAQs that address many situations we simply did not understand until the IRS issued this Notice.

The American Rescue Plan Act of 2021: New Stimulus Coverage (ARP2)
This program will cover a critical topic that every practitioner must know about immediately: the new American Rescue Plan Act of 2021 (ARP). Recently signed into law, the ARP contains many new items, including significant tax changes and new tax developments that all practitioners need to be aware of, particularly regarding 2020 return preparation.

The New Coronavirus Stimulus Package: Update and Analysis of Individual and Business Tax Changes (NSUA)
The new stimulus package (Consolidated Appropriations Act, 2021) contains thousands of pages of legislation, including many changes to the Internal Revenue Code. This in-depth webinar details and explains these new tax rules so that tax practitioners will be able to advise their clients regarding changes impacting 2020 and 2021. This program will address many of the issues that tax practitioners have dealt with over the past year, including forgiveness of Paycheck Protection Program loans, unemployment assistance, stimulus checks, an extension of a moratorium on evictions, and many other technical changes. Every tax practitioner needs a thorough grounding in these new legislative changes that have the potential to impact many individual and business clients.

Going Concern Accounting and Reporting Considerations in the COVID-19 Environment (AGC2)
One of the unfortunate outcomes of the COVID-19 pandemic is the economic stress. Such stress has raised concerns about many entities’ abilities to continue as a going concern, which has significant accounting, disclosure and, reporting implications. This course will review the relevant considerations related to going concern, including when substantial doubt concerning an entity’s ability to continue as a going concern exists, management mitigation efforts, and required disclosures both when management, and the accountant, feel such efforts will be effective in mitigating the risk, as well as when they do not. Lastly, we’ll consider the accountant’s reporting responsibilities under various scopes of services in various scenarios.

Financial Reporting Implications of the COVID-19 Pandemic (FRC4)
In addition to being a significant business interrupter for many entities, the impact of the COVID-19 pandemic will also create significant financial reporting implications for virtually all entities. Many formerly profitable entities will be looking at charges for once unthought-of circumstances, from fixed asset impairment to inventory and receivables write-downs. Further, many entities will need to account for debt and other contractual modifications, including restructuring, forgiveness, and debt covenant modifications. Applying this often complex accounting guidance in these areas may be challenging. In this course, we’ll review in detail the accounting guidance that many entities will need to apply when preparing their next set of financial statements. We’ll also review disclosure guidance for such topics as going concern considerations and subsequent events as well as other relevant financial statement recognition and presentation issues.

Working Remotely: Best Practices, Challenges, and Opportunities for Accountants (WKR2)
Working from home presents both benefits and challenges for accountants. For employees, working from home provides opportunities to be more productive and gain time that would otherwise be spent commuting to and from the office. Employers who utilize remote work enjoy fewer fixed costs, more efficiency, and greater employee satisfaction. Without proper planning, accountants who work remotely may experience increased anxiety and disorganization. They may also jeopardize data privacy. However, when executed properly, working remotely can help organizations become more efficient and profitable, while at the same time improving employee morale. This webinar looks at how accounting firms have successfully implemented work from home programs and discusses mistakes that can be avoided through proper planning.

Bankruptcy Basics: Understanding the Reorganization and Liquidation Process in These Uncertain Economic Times (BNK2)
Consumers and businesses file for bankruptcy to seek protection from creditors and to reorganize or liquidate debts. Bankruptcy filings rise and fall with the economy. Surveys show that loss of income is the leading cause of consumer bankruptcies, followed by medical expenses and foreclosure. Corporate bankruptcies, on the other hand, are often the result of several factors, including excessive debt, decreased demand, increased costs, lawsuits or poor accounting practices. It is no secret bankruptcy filings will see a tremendous uptick in the wake of the Covid-19 pandemic. As an accountant, CFP, attorney or other professional, you need to be able to discuss the process and different available courses of action with your clients. Both landlords and tenants will be influenced tremendously. Individuals will look to your advice for a discharge and new start. Businesses will do the same and will also need to advise loyal employees. Creditors will receive proofs of claim and look to you for your expertise. Take this webinar and make sure you can speak fluently to both creditors and debtors. As trusted advisors, then, professionals should have a basic understanding of the bankruptcy process. This course provides a thorough review of the consumer and corporate bankruptcy practice. Participants in this webinar will gain an understanding of how consumer and corporate bankruptcy proceedings begin and end, as well as learn about key issues that affect debtor and creditor rights during bankruptcy. This webinar provides information from the perspective of both debtor and creditor. Although bankruptcy concerns the debts of the debtor, the Bankruptcy Code provides substantial protections to creditors. Creditor rights, however, vary widely depending on the status afforded the creditor under the Bankruptcy Code. Do yourself, your clients and your profit margin a favor and sign up for this invaluable webinar.