W112: Tax Implications of the Cares Act and the newly signed stimulus bill (Nonprofits)
Wednesday, January 13, 2021
1:00 pm - 2:30 pm (EASTERN TIME)

The CARES Act is the largest economic relief bill in US history, allocating $3 trillion to support individuals and businesses through the
pandemic and economic downturn.   On December 28, 2020 another stimulus bill was signed into law which expanded the scope of the CARES Act.  Learn about the tax implications of provisions of the CARES Act, FFCRA, and the stimulus bill and in particular how it will impact your organization in 2020, 2021 and beyond as an Association, Nonprofit, including 501(c)3 and 501(c)6 organizations.

Learning Objectives
  • How the stimulus bill will expand the scope of the CARES Act.
  • Tax Treatment of PPP-Related Expenses
  • CARES Act Employee Retention Payroll Tax Credit & Paycheck
  • Protection Program (PPP)
  • CARES Act Payroll Tax Deferral
  • CARES Act Net Operating Loss (NOL) – Retroactive Carry Back Permitted
  • Other provisions and clarifications due to the stimulus bill
Jennifer Eubanks, CPA, CGMA, CMA
Principal, CPA Department
Jennifer is a Certified Public Accountant and holds a Master of Science in Accounting. She’s also earned her CGMA designation and CMA certification. Jennifer is board member for the George Mason School of Business Center for Government Contracting and has been a guest speaker at George Mason University (her alma mater). In addition, she’s a Cohort of the Goldman Sachs 10,000 Small Business Program and member of the Greater Reston Chamber of Commerce, the Small and Emerging Contractors Advisory Forum (SECAF), the AFCEA professional association, the Vistage® CEO network, the Institute of Management Accountants (IMA®), the American Institute of CPAs (AICPA), and the Virginia Society of CPAs (VSCPA). Jennifer was nominated a Top Financial Professional by Northern Virginia Magazine in 2016, 2018, 2019 and 2020. Jennifer previously served as Controller of a non-profit organization and CFO of an Industry Association.
James (Jim) Niblock, JD
Senior Tax Manager at Senior Tax Manager at CPA Department
Sheetal Sood, CPA, MSACC, MBA
Senior Tax Accountant at CPA Department
Level Intermediate Delivery Group live presented online due to COVID-19
CPE(NASBA Category) Taxes Reviewer Wade Tetsuka, CPA
CAE (Field of Study) Administration – Financial Management CPE/CAE Credits 1.5
Prerequisites and advance preparation needed None, but at least 1-year of accounting experience in public or private nonprofit practice is preferred Cost free
Refund and Complaint Resolution Policy:

U.S Transactions Corp. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: