On August 27, 2020, the Internal Revenue Service issued a memorandum (“Memorandum”) (see link) allowing taxpayers and their representatives to temporarily use an electronic or digital signature when signing certain tax forms...more
The uncertain economic environment surrounding the COVID-19 crisis has triggered a sharp decline in trading prices for the equity and debt securities of many business development companies (“BDCs”) and closed-end funds...more
5/19/2020
/ Business Development Companies ,
Closed-End Funds ,
Coronavirus/COVID-19 ,
Corporate Issuers ,
Debt Repurchasing ,
Equity Repurchasing ,
Financial Industry Regulatory Authority (FINRA) ,
Insider Trading ,
International Tax Issues ,
Main Street Lending Programs ,
Market Manipulation ,
Restrictive Covenants ,
Risk Management ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Tender Offers
Key Takeaways
- Registered closed-end funds and business development companies should reassess their distribution policies if they are in need of liquidity.
- As part of that reassessment, funds should consider paying...more
4/8/2020
/ Business Development Companies ,
Closed-End Funds ,
Coronavirus/COVID-19 ,
Distribution Rules ,
Dividends ,
Investment Funds ,
IRS ,
Liquidity ,
Relief Measures ,
Tax Deductions ,
Tax Relief
In the wake of the Coronavirus pandemic, on March 18, 2020 the U.S. Internal Revenue Service issued guidance extending the Federal income tax payment deadline for any person with a Federal income tax payment otherwise due...more