
Business Closures
Due to COVID-19, several businesses have closed or are on the verge of closing. In this session, we will look at the tax ramifications of closing a business.
Objectives
Upon completion of the session, the learner will be able to:
• Show how to report the abandonment or sale of business assets
• Review the process of filing a final business tax return
• Analyze the filing requirements for filing Form 966
• Explain the consequences of cancellation of debt
Details
Genaro Cardaropoli, CPA, MPA & Laura Strombom, EA, MBA
Instructor:
Level:
Intermediate
Prerequisites:
Basic knowledge of business taxation
Advanced Preparation:
None
Delivery Method:
Group Live
CPE credits Designation Field of study
IRS
2
AFSP
Federal Tax Law Topic
IRS
2
EA
Federal Tax Law Topic
NASBA
2
CPA
Taxes
CTEC
2
CRTP
Federal Tax Law Topic
CFP Board
0
CFP®
No
How to Earn CPE
Sessions are first come, first served. Registration is not required for individual sessions. To earn CPE, scan your badge on your way into each session. You do not need to scan on your way out. CPAs will receive an additional form at registration to self-report their time out. We strictly abide by the IRS’ CPE rules and turn badge scanners off ten minutes after each session begins. We cannot award CPE if your badge isn’t scanned.