Congress did it to us again! Waiting until the last minute, Congress passed bipartisan tax legislation which President Trump signed into law on December 20, 2019. This legislation included the “Setting Every Community Up for Retirement Enhancement (SECURE) Act”, which is largely designed to provide improvements to retirement savings and income in retirement. In addition, this legislation renewed a number of expired tax provisions by retroactively (to 2019) extending the provisions through December 31, 2020. The legislation also repealed certain provisions of the Affordable Care Act. This course is will explore all of these changes and will help you understand these issues so that your compliance season will proceed smoothly.
After completing this course, you will be able to:
* Identify the provisions and implications of the SECURE Act prior to the start of the tax season
* List the renewal of the various tax provisions (the “extenders”) and the repeal of certain tax-related provisions of the Affordable Care Act.
* Overview of the SECURE ACT
* RMD changes
* IRA changes
* “Stretch” changes
* New penalty exceptions
* 401(k) plan changes
* Employer tax credits
* Extender legislation
* ACA changes
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