News & Analysis as of

Income Taxes › Corporate Taxes › Relief Measures

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Nossaman LLP

Federal and California Tax Agencies Announce Relief Measures for Storm-Impacted Taxpayers

Nossaman LLP on

Federal and California tax agencies have announced several relief measures for taxpayers affected by the storms that started shortly before New Year’s Eve and ended (for the time being) on Martin Luther King Jr. Day. Natural...more

Goodwin

France enacts the Finance Law for 2023 - Loi de Finances pour 2023

Goodwin on

La Loi de finances pour 2023 (LF 2023) a été publiée au Journal Officiel le 31 décembre 2022. Le présent bulletin décrit brièvement une sélection de mesures fiscales qu’elle contient. Veuillez consulter la publication...more

Holland & Knight LLP

Resolución que modifica fechas para el registro de Beneficiarios Finales en Colombia

Holland & Knight LLP on

Tal como lo anticipó la alerta del 27 de septiembre de 2022, la Dirección de Impuestos y Aduanas Nacionales (DIAN) de Colombia expidió la Resolución 001240 de 28 de septiembre de 2022, por la cual modificó los artículos 10,...more

Pillsbury Winthrop Shaw Pittman LLP

New York Budget Raises Tax Rates, Provides Relief to Address Pandemic

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New York’s Fiscal Year 2022 budget increases taxes on corporations and high earners and provides relief to pandemic-hit industries. Temporary increases to tax rates on corporations, individuals, and tax credits for...more

Greenberg Glusker LLP

IRS and California Franchise Tax Board Extend Deadlines for Individual Taxpayers to May 17, 2021 – What You Need to Know

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During the week of March 15, both the Internal Revenue Service and the California Franchise Tax Board extended the deadlines for individual taxpayers to file their 2020 income tax returns and pay their 2020 taxes from April...more

Jackson Walker

IRS Extends Federal Tax Deadlines for Texas Due to Winter Storms

Jackson Walker on

The IRS announced that it has extended certain tax return and payment deadlines for those impacted by the Texas winter storms. Texas residents and businesses now have until June 15 to file federal tax returns and make tax...more

Pierce Atwood LLP

COVID-19: Maine Income Tax Does Not Conform to FFCRA and the CARES Act

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Maine Revenue Services (MRS) has informed taxpayers that Maine does not conform to the federal tax changes enacted in the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security...more

Morgan Lewis

State And Local Tax Responses To Covid-19 (UPDATED)

Morgan Lewis on

Alabama: The Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales during...more

Lowndes

Don’t Forget the Tax Man: Many Tax Returns and Payments Due Next Week

Lowndes on

Because of Covid-19, the IRS extended most federal tax filing and payment deadlines otherwise due from April 1, 2020 to July 14, 2020 until July 15, 2020....more

Dentons

State Tax Treatment of Funds Received Through COVID-19 Relief Efforts

Dentons on

Over the last several months, businesses and individuals have received funds through various COVID-19 relief efforts. They now may be wondering what, if any, impact these funds will have on their tax returns next year....more

Holland & Knight LLP

Ministerio de Hacienda reduce anticipo de impuesto sobre la renta para el año 2020

Holland & Knight LLP on

El 29 de mayo de 2020, el Ministerio de Hacienda y Crédito Público expidió el Decreto 766 de 2020, por medio del cual reduce el anticipo que deben pagar los contribuyentes del impuesto sobre la renta en el año 2020, como...more

Holland & Knight LLP

Colombia – DIAN de modifica plazos para presentar información exógena

Holland & Knight LLP on

El 28 de mayo de 2020, la Dirección de Impuestos y Aduanas Nacionales (DIAN) emitió la Resolución No. 00053 por medio de la cual se modifican los plazos establecidos para la presentación de información tributaria del año...more

Morgan Lewis

Remote Working Implicates State Payroll Tax, Corporate Income/Franchise Tax Nexus Concerns

Morgan Lewis on

Employers should be aware that remote working arrangements during the coronavirus (COVID-19) pandemic may inadvertently trigger state payroll tax registration and filing requirements for their businesses, and possibly trigger...more

Miles & Stockbridge P.C.

IRS Extends Tax Deadlines Related to Individuals, Trusts, Estates, Partnerships and Corporations

Miles & Stockbridge P.C. on

On April 9, 2020, the IRS issued Notice 2020-23 (the “Notice”), which extends more tax deadlines to cover individuals, estates, corporations and others. The notice expands upon tax relief granted in prior IRS notices that...more

Williams Mullen

IRS Provides OZ Relief for Some, But Not All

Williams Mullen on

In a series of related actions by the IRS designed to provide relief for taxpayers affected by the COVID-19 pandemic, the IRS, under its Code Section 7508A authority, issued Notice 2020-23 (the “Notice”). The Notice...more

Greenbaum, Rowe, Smith & Davis LLP

IRS Expands COVID-19 Relief by Extending Additional Filing and Payment Deadlines for Businesses and Individuals to July 15, 2020

Greenbaum, Rowe, Smith & Davis LLP on

The Internal Revenue Service (IRS) recently extended to July 15, 2020 a variety of filing and payment deadlines with the issuance of Notice 2020-23.  The action provides additional relief to both businesses and individual...more

Williams Mullen

IRS Provides Additional Relief for Taxpayers Affected by COVID-19

Williams Mullen on

On April 9, 2020, the Department of the Treasury (Treasury Department) and the Internal Revenue Services (IRS) issued Notice 2020-23, announcing that certain additional tax return filing and payment deadlines have been pushed...more

ArentFox Schiff

IRS Bolsters Taxpayer Relief by Extending 300 Tax Filing, Payment and Administrative Deadlines

ArentFox Schiff on

The Internal Revenue Service has expanded its previous relief measures with Notice 2020-23, which automatically extends key tax deadlines for all taxpayers that have a filing or payment deadline on or after April 1, 2020, and...more

Williams Mullen

IRS Expands COVID-19 Relief for Filing and Payment Deadlines

Williams Mullen on

As we have described in previous tax alerts, the Internal Revenue Service (the IRS) has issued various notices addressing both payment and filing deadlines for taxpayers affected by the COVID-19 pandemic. On March 18, 2020,...more

Seyfarth Shaw LLP

The IRS Extends Filing and Payment Obligations for Most Taxpayers and Performance of Certain Taxpayer Time-Sensitive Actions Until...

Seyfarth Shaw LLP on

On April 9, 2020, the Secretary of the U.S. Department of Treasury (the “Secretary”) and the Internal Revenue Service (the “IRS”) issued Notice 2020-23 (the “Notice”), which extends the deadline for performance of a long list...more

Dorsey & Whitney LLP

CARES Act Provides Significant Payroll Tax Relief and Relief for Business Taxpayers and Individuals

Dorsey & Whitney LLP on

The federal Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”), signed into law on March 27, 2020, contains significant (and mostly temporary) changes to federal tax law that provide immediate...more

Payne & Fears

IRS Notice 2020-18 Automatically Extends Deadline to File and Pay Income Taxes to July 15, 2020

Payne & Fears on

On March 21, 2020, the Treasury Department and the Internal Revenue Service issued Notice 2020-18, which announced that the federal income tax filing and payment due date is automatically extended from April 15, 2020, to July...more

Bracewell LLP

State Business and Personal Income Tax Relief in Response to COVID-19

Bracewell LLP on

The Treasury Department and the Internal Revenue Service offered relief from federal tax return filing and tax payment deadlines to certain taxpayers under Notices 2020-17 and -18. Such federal extension of time to file l...more

BCLP

COVID-19 Update – How the CARES Act Effects Tax Benefits Related to Charitable Giving

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On Friday, March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or “Act”). The Act was one of several Congressional responses to the COVID-19 emergency and it...more

Miller Canfield

CARES Act: Tax-Related Provisions

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The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes provisions to provide employment tax credits and relief to businesses and to reduce or eliminate the restrictions on the use of losses or deductions....more

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