Omnibus Stimulus Bill Changes the Employee Retention Tax Credit: Extended provisions for claims in 2020 and 2021, what attorneys should know now.

J. Kirk McGill
J. Kirk McGill | Godfrey | Johnson, P.C.

Mr. McGill specializes in complex issues of constitutional law, including administrative law. Before becoming a lawyer, Kirk McGill had almost a decade of experience in complex business, tax, and government contracting disputes ranging from small-business operations to major defense contractors.

On-Demand: January 28, 2021

Omnibus Stimulus Bill Changes the Employee Retention Tax Credit: Extended provisions for claims in 2020 and 2021, what attorneys should know now.
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Program Summary

The Employee Retention Tax Credit (“ERC” or “ERTC”) was created in the CARES Act as an alternative to the Paycheck Protection Program (“PPP”). Accordingly, the two programs were mutually exclusive. However, the 2020 year-end Omnibus stimulus bill retroactively repealed the mutual exclusivity provision and extended the ERTC program into 2021. This class will discuss the changes to the ERTC program made by the Omnibus and prepare practitioners both for retroactive amendments to claim the credit in 2020, and to claim the credit in 2021.

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

  • Review the original ERTC program.
  • Analyze the changes made to the ERTC program by the Omnibus 2020 year-end stimulus bill.
  • Discuss methods for reconciling the ERTC and PPP to maximize the overall benefit to the taxpayer.
  • Question and answer session.

Date / Time: February 12, 2021

  • 2:00 pm – 3:00 pm Eastern
  • 1:00 pm – 2:00 pm Central
  • 12:00 pm – 1:00 pm Mountain
  • 11:00 am – 12:00 pm Pacific

Choose a format:

Live Video Broadcast/Re-Broadcast: Watch Program "live" in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for "live" CLE credit.
On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 5 business days after the original recording date and are view-able for up to one year.
Closed-captioning available upon request

Speakers

J. Kirk McGill, Godfrey_Johnson P.C_myLawCLEJ. Kirk McGill | Partner and Appellate Specialist | Godfrey|Johnson, P.C.

Mr. McGill specializes in complex issues of constitutional law, including administrative law. Before becoming a lawyer, Kirk McGill had almost a decade of experience in complex business, tax, and government contracting disputes ranging from small-business operations to major defense contractors. His service as an agent for the State of Colorado and later the United States Department of Defense prior to attending law school gives him unique insight into disputes involving a state or the Federal Government, and his extensive educational background in business, finance, accounting, and economics allows him to ‘speak the same language’ as sophisticated business clients. Though a new attorney, Mr. McGill practically grew up in his father Ben K. McGill’s law practice in Tulsa, Oklahoma (and later in Durango, Colorado). Under the tutelage of his father—a universally respected litigator—Mr. McGill began exploring the law from the moment he learned how to read as a child. His wide-ranging expertise in a broad swath of legal and professional areas, his insatiable drive to assimilate knowledge, and his tireless work-ethic allows him to step into virtually any case or controversy and contribute materially the moment he walks in the door. The Firm looks forward to leveraging his already formidable skill set with his ever-increasing legal knowledge, skills, and experience on behalf of our clients.

Agenda

I. Review the original ERTC program | 3:00-3:15
II. Analyze the changes made to the ERTC program by the Omnibus 2020 year-end stimulus bill | 3:15-3:30
III. Discuss methods for reconciling the ERTC and PPP to maximize the overall benefit to the taxpayer | 3:30-3:45
IV. Question and answer session | 3:45-4:00