Nestled within the new proposed regulations issued by the IRS on April 12 (the "Proposed Regulations") that mainly address foreign investors is needed relief for current Opportunity Zone projects....more
Many grantmakers are unaware, but private foundations can make direct grants to individuals to further the private foundation’s exempt purpose. Private foundations often focus their grantmaking programs on making grants to...more
On June 4, 2020, Treasury and the Internal Revenue Service issued Notice 2020-39 (the Notice) modifying Notice 2020-23 and providing relief under Section 7508A of the Internal Revenue Code (Code). Under Code Section 7508A,...more
On April 9, 2020, following issuance by the President of the United States of an emergency declaration under the Robert T. Stafford Disaster Relief and Emergency Assistance Act on March 13, 2020, the Secretary of the U.S....more
As temporary layoffs and furloughs become more prevalent during the COVID-19 outbreak, employers have been asking whether they may allow employees to take hardship distributions under their Section 401(k) plans for expenses...more
The Federal government has recently taken a series of actions concerning the novel coronavirus disease (COVID-19). We discuss the tax implications of these decisions...more