Four COVID-19 Executive Actions - After reaching a stalemate with congressional Democrats on Capitol Hill, the President on Aug. 8 signed four presidential actions, including a memorandum for the Secretary of the Treasury...more
The Paycheck Protection Program (PPP) was originally funded with $349 billion, and Congress recently appropriated another $310 billion for the program. ...more
Taxpayers May Delay Both Filing Tax Returns and Paying Some Taxes for 90 Days - Q: Congressional and Treasury Action to Date: What have Congress and the Treasury Department done in response to the COVID-19 crisis so far that...more
On March 25, 2020, the Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, an approximately $2 trillion so-called Phase 3 relief and stimulus package containing a host of tax and economic provisions...more
3/30/2020
/ Alternative Minimum Tax ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Employee Retention ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
Tax Credits
Q: Congressional and Treasury Action to Date: What have Congress and the Treasury Department done in response to the COVID-19 crisis so far that may be of interest to businesses?...more
Q: Congressional Action to Date: What has Congress done in response to the COVID-19 crisis so far that may be of interest to businesses?...more
On March 18, 2020, the Senate passed and the president signed H.R. 6201, the Families First Coronavirus Response Act (the Act). ...more
Q – Filing of Federal Tax Returns: Must C corporation and individual U.S. federal income tax returns or extensions for the 2019 calendar year be filed by the April 15, 2020, due date?...more
The Treasury Department and the IRS published proposed regulations yesterday on the Base Erosion and Anti-Abuse Tax (BEAT) that was enacted by the Tax Cuts and Jobs Act of 2017. ...more
Recently proposed IRS regulations materially change the way stock and assets of foreign corporations that are “controlled foreign corporations” (CFCs) can be used to support debt of U.S. affiliates. ...more
With the release today of a Republican budget framework (the Framework) reflecting the shared view of the White House and House and Senate leaders – and with GOP majorities in both chambers of Congress – there is a likelihood...more
With a Republican President and GOP majorities in both chambers of Congress, there is a likelihood that Washington may pass comprehensive tax reform in 2017. The President has identified tax reform as one of his top three...more
Coinbase, one of the largest digital currency exchange companies in the world, will likely be asked to provide the Internal Revenue Service (IRS) with transactional data and other information on all U.S. customers who used...more
What is an inversion?
An inversion is a transaction that results in an existing U.S. company becoming a foreign company or becoming a subsidiary of a foreign parent. Historically, inversions involved U.S. companies...more
9/29/2014
/ AbbVie ,
Asset Stripping ,
Burger King ,
Controlled Foreign Corporations ,
Corporate Counsel ,
Corporate Taxes ,
EU ,
Medtronic ,
Mylan Pharmaceuticals ,
Offshore Funds ,
Pfizer ,
Popular ,
Repatriation ,
U.S. Treasury ,
Walgreens
As you likely have heard, the President signed the American Taxpayer Relief Act (H.R. 8) (the "Act") on January 2, 2013. The Act, popularly known as the "fiscal cliff" legislation, permanently extends the Bush era tax cuts...more
1/4/2013
/ 3.8% Medicare Tax ,
Alternative Minimum Tax ,
American Taxpayer Relief Act ,
Bush-Era Tax Cuts ,
Business Taxes ,
Capital Gains ,
Estate Tax ,
Fiscal Cliff ,
Generation-Skipping Transfer ,
Gift-Tax Exemption ,
Income Taxes ,
Payroll Taxes ,
Production Tax Credit ,
Tax Extensions