How COVID affects your clients 2020 tax returns

In this course, we will run through the key areas of impact on 2020 tax returns affecting your 1040 clients. We will cover reporting both the first and second round of Economic Impact Payments (Stimulus checks) and how to help your clients claim any missed amounts; How to report charitable donations this year without having to itemize deductions; How to help your clients maximize their Earned Income Tax Credit by using prior year income figures; How to claim Sick Leave and Family Leave credits for your self employed filers using form 7202; and we will touch briefly on PPP loans and their impact on individual returns as well. This course will count for 1 credit of Tax Law Updates for IRS Continuing Education purposes.