Summer housekeeping reminders for tax practitioners| Tax Section Odyssey
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Summer housekeeping reminders for tax practitioners| Tax Section Odyssey

2 months ago · 30 min listen

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In this episode

Summer may be in full swing, but tax practitioners still need to be mindful of certain alerts and deadlines that might have gotten lost in the shuffle earlier this year.

Annette Nellen, CPA, CGMA, Esq., Tax Professor – MST Program at San Jose State University, and a past Chair of the AICPA Tax Executive Committee, shares her summer hit list of items to be aware of including:

  • Discussion on how to repay any deferred payroll taxes from 2020

  • Documentation needed for the employee retention credit (ERC) and other COVID-19 payroll tax credits

  • Treatment of other COVID-19 relief including grants and debt cancellation programs

What you’ll learn in this episode

  • General overview of the deferred payroll taxes (1.20)

  • How self-employed individual and household employers can repay deferred Social Security taxes (4.29)

  • Accrual method employer treatment of the deferred payroll taxes (9.42)

  • ERC and sick leave credit documentation requirements (11.22)

  • Tax treatment of other COVID-19 relief (23.00)

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Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices.

This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already, consider joining this prestigious community of your tax peers. You’ll get 15 hours of free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a subscription to The Tax Adviser.

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