COVID-19: The New Legal Landscape for Employers and Employees Self-Study Webinar (2 Hours)

Overview: 

New workplace guidelines are meant to slow the spread of the Coronavirus, but have also led to temporary shut-downs and massive layoffs for many businesses. This self-study webinar will address the legal rights—and restrictions—of employers and employees during the current pandemic, with a focus on:

  • What constitutes an essential business?
  • The government’s new $2T economic stimulus package
  • Tax deferral
  • Families First Coronavirus Response Act
  • Sick leave for Coronavirus-related illnesses
  • Workplace safety concerns
Objective: 

To provide guidance on legal issues pertaining to employers and employees, as a result of the ongoing Coronavirus crisis. Learn what obligations must be met, what restrictions must be followed, and what economic resources are available to help qualified parties.

Emphasis: 
  • What is COVID-19?
  • What we need to know
  • Shelter-in-place rules
    – Enforcement by authorities
    – Penalties
  • Essential vs. non-essential
    – Which businesses and activities qualify as essential?
    – Essential personnel (first responders, police, etc.)
  • Relief
  • The CARES Act, a $2T economic stimulus package created to help businesses and individuals weather the Covid-19 storm
  • Expanded unemployment insurance
  • Direct payments to households
  • Small business loans
  • Tax deferrals and extended deadlines
  • Help for small businesses
  • Loan forgiveness
  • Paycheck Protection Program
  • Families First Coronavirus Response Act
  • Sick leave requirements for COVID-19 related illnesses
  • Workplace safety concerns
  • OSHA guidance and reporting requirements
  • Levels of exposure risk
  • Worker’s compensation
  • Group health benefits
  • Employer obligations
  • Traveling workforce

Recognize the approximate annual spending by the federal government and the percentage of that spending supported by corporate income taxes

Identify the appropriate placement of the tax return liability on the balance sheet

Identify the guidance which allows an entity to choose between the taxes payable approach and the deferred tax approach to account for income taxes

Recognize the non-authoritative accounting body that permits entities to choose between the taxes payable approach and the deferred tax approach to account for income taxes

Identify the type of transaction which creates a deferred tax asset

Identify the type of transaction which creates a deferred tax liability

Recognize the superseded term for non-temporary differences

Identify temporary differences

Recognize timing differences

Identify the accounts requiring the use of the cash basis for tax purposes

Identify temporary inventory differences

Identify non-temporary differences

Identify the balance sheet changes brought upon by ASU 2015-17

Recognize the FASB’s tentative decisions on income tax disclosures

Recognize the types of international convergence issues being discussed

Recognize the corporate tax rate under the TCJA

Recognize the gross receipts test for the use of the cash method of accounting under the TCJA

Identify the available corporate NOL options under the TCJA

Identify the basis upon which current taxes are determined

Recognize the basis upon which deferred taxes for carrybacks are determined

Recognize the circumstances requiring the use of professional judgment when determining the appropriate tax rates for booking deferred taxes

Identify the treatment of adjustments to DTAs and DTLs for changes in tax laws or rates

Identify the result of the receipt of advance rent on the balance sheet

Identify the appropriate placement of a valuation allowance

Identify the circumstances requiring a valuation allowance

Recognize viable tax planning strategies

Recognize examples of positive evidence

Recognize examples of negative evidence

Recognize the model followed by FIN 48

Recognize the applicability of FIN 48 to non-profits

Identify potential impact of tax positions on the financial statements

Identify various tax positions

Identify the methodology for measuring a tax position

Identify the assumptions necessary when recognizing tax positions

Recognize the conditions necessary to consider a tax position to be effectively settled

Recognize the status of FIN 48 and the tax authority’s access to the underlying information

Recognize the revenue threshold for exemption from filing federal Schedule UTP

Recognize the circumstances requiring the use of the equity method of accounting

Recognize the implications of electing to file a consolidated federal tax return on future years

Identify the ability of life insurance subsidiaries to consolidate

Recognize the private company option regarding the amortization of goodwill under ASU 2014-02

Recognize the appropriate steps necessary for an intraperiod tax allocation

Identify the reasons for the annualization of interim tax calculations
 

Bottom
Price: 
$99.00
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
2.00
NASBA Field of Study: 
Business Law