We have had several matters recently with “Accidental Americans” – that is, non-US persons who became US tax residents by staying in the US for a sufficient number of days.
This frequently happens in an understandable...more
The global coronavirus pandemic is of course a challenging time. Many businesses have been hard hit and may not recover. Unemployment has skyrocketed. On the other hand, there are many businesses that have been only mildly...more
Businesses dealing with the present economic downturn may find relief from taxation and potential tax refund options under existing tax law as recently amended by the CARES Act....more
In light of the coronavirus pandemic and significant economic downturn, this blog post briefly discusses questions that are commonly being asked right now regarding the income tax treatment of cancellation of indebtedness...more
The coronavirus outbreak, the subsequent passage of the CARES Act by the federal government, and current low interest rates have changed the landscape of charitable contributions and planning in 2020.
Charitable...more
With the worldwide spread of coronavirus, this is an unprecedented and unsettling time. Our health care systems are overwhelmed. Markets have been upended. Social distancing and self-quarantine are terms and practices we...more
Due to the Coronavirus Pandemic, the Treasury announced Tuesday that it will be pushing back the April 15th deadline to pay income taxes owed for 2019 by 90 days. In other words, until July 15, 2020, no taxpayer will be...more