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Corporate Tax Updates for 2022

Gain an understanding of planning strategies and deadlines that will create tax benefits and manage tax reporting issues.

This topic will provide you with an overview of the current 2021 corporate tax issues reported for businesses, including reconciling the differences between book and tax income and expenses. The range of topics will include tax elections and methods, changes in income tax rates, and changes in historical income tax deductions and benefits created by the recent tax changes during 2020. With changes in the Congress and White House beginning in 2021, the content will consider changes in corporate tax policy based on current updates for COVID-19 relief and corporate tax increases.

Learning Objectives

  • You will be able to identify key planning concepts as well as accounting and recordkeeping requirements for corporate tax accounting.
  • You will be able to recognize current Corporate tax elections including the impacts and benefits.
  • You will be able to identify Tax Changes from the Cares Act and CA Act.
  • You will be able to identify current corporate tax rules and issues including those related to COVID-19.

100 minutes
Course Exam
Certificate of Completion
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Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.


Accounting for Corporate Tax

  • Definitions and Terms
  • Recordkeeping Requirements
  • Reporting Book/Tax Differences
  • Impact of Methods of Accounting

Identifying Tax Elections and Benefits

  • New Tax Rules for Small Business
  • Tax Issues and Rates for Categories of Business
  • Depreciation Impact on Income Taxes
  • Taxable Exchanges and Inventory Issues

Identifying Tax Changes From 2020 CARES Act and CA Act

  • Net Operating Loss and Excess Loss Benefits
  • Interest Expense Deduction Limitations
  • Paycheck Protection Program and Tax Issues
  • Tax Forms Added to Disclose Tax Information
  • Foreign Income Tax Credits/Rate Differences

COVID-19 Issues Update

  • PPP Loan Forgiveness Reporting
  • Deductible Expenses From PPP Loans
  • Employee Retention Credit
  • Payroll Tax Deferral

Top Examples and Cases of Corporate Tax Reporting

  • Classic New Business With Losses/Startup Issues
  • Adding Investors and Capital Contributions
  • Compensation vs. Dividend Taxation
  • Consolidation of Parent and Subsidiaries
  • Mergers and Acquisition Transactions
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.


OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on November 22, 2021.

Call 1-866-352-9540 for further credit information.

  • AIPB 2.0
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
  • AR CLE 1.5
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board, including hour of ethics credit.
  • Arizona CLE 1.5
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
  • CA MCLE 1.5
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
  • CT CLE 1.5
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
  • HI CLE 1.5
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
  • IL CLE 1.5
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
  • NH MCLE 1.7
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 99 Minutes.
  • NJ CLE 2.0
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2.0 hours of total CLE credit.
  • PA CLE 1.5
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
  • RI CLE 2.0
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit.
  • VT CLE 1.5
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
  • WI CLE 2.0
  • This program qualifies for 2.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
  • WV MCLE 2.0
  • This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
  • Enrolled Agents 2.0
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
  • CPE/NASBA - QAS Self Study 2.6 including Taxes 2.6
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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 web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.6 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

MP3 Download

  • Arizona CLE 1.5
  • CA MCLE 1.5
  • CT CLE 1.5
  • HI CLE 1.5
  • NJ CLE 2.0
  • VT CLE 1.5
  • WV MCLE 2.0
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.


Thomas M. Kosinski, C.P.A., M.S.T.

Thomas M. Kosinski, C.P.A., M.S.T.

Ostrow Reisin Berk & Abrams, Ltd.

  • Member of the Tax Department at Ostrow Reisin Berk & Abrams, Ltd., since 1994, and became a director in 2001
  • Frequent speaker with the Illinois CPA Society covering Federal and State Tax Updates, IRS matters, individual and corporate tax compliance, and flow-through income tax strategies
  • Offers more than 25 years of experience providing strategic tax planning and technical advice for individuals and the owners of closely held companies
  • Provides specialized tax planning services to his clients, which include high-net-worth individuals and business entrepreneurs
  • Has significant industry experience including real estate and commodities/securities
  • Researches and implements a wide range of federal and Illinois tax strategies, and represents numerous Illinois taxpayers during IRS and Illinois Department of Revenue audits
  • Consults with firm clients on state and local taxation issues and manages firm issues relating to international taxation
  • Assists U.S.-based entities in planning for foreign operations as separate entities, branches, or divisions
  • Active member and a former president of the Illinois CPA Society Chicago South Chapter and a member of the American Institute of Certified Public Accountants
  • Contributing author for a tax newspaper column and previously a co-author for a tax savings publication for individual taxation
  • Master’s degree in taxation and B.S. degree in accounting, summa cum laude, DePaul University
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 409233
Published 2021
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