The IRS has issued Notice 2020-65, which implements President Trump’s August 8 memorandum calling for a deferral of withholding of the employee portion of payroll taxes attributable to certain wages. This deferral is...more
On March 20, 2020, Treasury Secretary Mnuchin announced that the IRS would be extending the due date for filing of certain federal income tax returns otherwise due on April 15, 2020, to July 15, 2020. ...more
On March 18, 2020, the IRS issued Notice 2020-17 which extends the due date for payment of certain federal income taxes otherwise due on April 15, 2020, to July 15, 2020. ...more
In a surprising move amidst its continuing crack down on corporate inversions, the U.S. Treasury just proposed new regulations reflecting a broadly expanded approach to the practice of earnings stripping. Because an inversion...more
Congress has recently scrapped the existing procedures for IRS audits of partnerships. The new rules (the “BBA Audit Rules”1) are effective for partnership taxable years beginning on or after January 1, 2018. A partnership...more