News & Analysis as of

Tax Cuts and Jobs Act Tax Relief

Ogletree, Deakins, Nash, Smoak & Stewart,...

Beltway Buzz - August 2024 #2

The Beltway Buzz is a weekly update summarizing labor and employment news from inside the Beltway and clarifying how what’s happening in Washington, D.C., could impact your business....more

Proskauer - Tax Talks

Tax Relief for American Families and Workers Act of 2024

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On January 17, 2024, Senate Finance Committee Chairman Ron Wyden (D-Ore.) and House Ways and Means Committee Chairman Jason Smith (R-Mo.) released a bill, the “Tax Relief for American Families and Workers Act of 2024”...more

DarrowEverett LLP

Potential Changes Threaten Estate Planning Strategies, Create Urgency to Act

DarrowEverett LLP on

Actor Will Rogers is widely credited with stating that “the only difference between death and taxes is that death doesn’t get worse every time Congress meets.” While most taxpayers fear tax laws changing for the worse, estate...more

Maynard Nexsen

2020 Presidential Candidates' Tax Proposals

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Election Day is just under a month away. Will there be a “blue wave”? Will Republicans maintain control of the Presidency and the Senate? Who knows? But, at a high level, we can compare what tax policies may be implemented in...more

Troutman Pepper

NOL Carryback Issues for Companies That Departed a Consolidated Group, Including Split Waivers and AMT Credit Refunds

Troutman Pepper on

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748) included changes to the federal income tax loss (NOL) carryforward provisions under Section 172 of the Internal Revenue Code. One of the significant...more

ArentFox Schiff

Senate Republicans Propose Additional Tax Relief in HEALS Act

ArentFox Schiff on

The tax provisions of the HEALS Act would expand upon and modify several provisions of the Coronavirus Aid, Relief and Economic Security (CARES) Act, including the employee retention tax credit, while also introducing...more

BakerHostetler

Proposed Treasury Regulations Provide Potential Compensation Excise Tax Relief for Foundations Related to Business Organizations

BakerHostetler on

Proposed Treasury regulations published earlier this month contain limited relief for tax-exempt entities. If followed carefully, those regulations can enable tax-exempt entities (and any related for-profit corporations) to...more

McDermott Will & Emery

Weekly IRS Roundup June 8 – June 12, 2020

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 8 – June 12, 2020... June 9, 2020: The IRS published a reminder for taxpayers that estimated...more

Proskauer Rose LLP

Coronavirus Tax Relief (Updated)

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On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (H.R. 6201), and on March 27, 2020, he signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”)...more

Jaburg Wilk

Tax Relief to Help Weather the Storm of COVID-19

Jaburg Wilk on

As the COVID-19 pandemic has wreaked havoc on our personal, financial and business lives, the government has responded with legislative and administrative relief.  This is a high-level summary of some of the enacted measures...more

Rosenberg Martin Greenberg LLP

Net Operating Losses under the CARES Act

A few key provisions of the recently enacted Coronavirus Aid, Relief, and Economic Security Act (the “CARES” Act) should prove fruitful for businesses that have new or recent net operating losses....more

Proskauer Rose LLP

Coronavirus Tax Relief

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Originally published on April 2, 2020. Last updated as of April 29, 2020. On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (H.R. 6201), and on March 27, 2020, he signed into law...more

McDermott Will & Emery

Individual Loss Carryback Refunds Under the CARES Act

McDermott Will & Emery on

The CARES Act allows individuals, estates and taxable trusts with certain business losses in 2018, 2019 and 2020, including losses from pass-through entities, to obtain refunds of taxes paid in the prior five years...more

Skadden, Arps, Slate, Meagher & Flom LLP

Financial Relief Under the CARES Act for US-Incorporated Subsidiaries of Foreign Companies

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act, or Act) was signed into law. The Act provides much-needed financial relief to businesses in the United States. While most of the aid is...more

Holland & Hart - Employers' Lawyers

TAX RELIEF: Payroll Tax and Corporate Tax

The CARES Act provides additional payroll tax credits, suspends certain excise taxes, and modifies certain provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”). Each of the provisions provides relief designed to increase...more

Skadden, Arps, Slate, Meagher & Flom LLP

State and Local Tax Considerations in Light of COVID-19

The first order of business for many state tax authorities in response to COVID-19 was deciding whether to extend their respective income tax filing and payment deadlines for the 2019 tax year, either automatically by...more

Burr & Forman

CARES Act Massively Expands NOL Availability, Removes TCJA Limits, and Brings Back and Even Extends Carrybacks

Burr & Forman on

In the late hours of March 25, 2020, the United States Senate met to vote on a third “Coronavirus” bill to provide relief to the American people.  The Senate ultimately passed H.R. 748—the Coronavirus Aid, Relief, and...more

Rosenberg Martin Greenberg LLP

Pertinent Tax Provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”)

The President recently signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or “the Act”).  The following summarizes key tax provisions. Business Tax Provisions - Employee Retention...more

Greenberg Glusker LLP

Tax Implications of COVID-19 Relief Package

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This client alert summarizes recent federal tax changes that are intended to provide relief to businesses and individuals impacted by the coronavirus (“COVID-19”) epidemic, including changes effected under recent IRS...more

Bradley Arant Boult Cummings LLP

Stimulus Tax Relief Provisions Under New CARES Act

The landmark 335-page Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law on March 27, 2020, is an estimated $2+ trillion package primarily devoted to providing economic relief and stimulus for...more

Alston & Bird

Downward Stock Attribution for CFC Purposes

Alston & Bird on

What if? As massive as the CARES Act is, there was one tax section that was left out of the final version. Our Federal Tax Group excavates this missing piece and investigates how it would have restored what was repealed by...more

Skadden, Arps, Slate, Meagher & Flom LLP

CARES Act Tax Considerations

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020, representing the so-called “Phase 3” of the response to the COVID-19 pandemic, as discussed in our client alert “CARES...more

Neal, Gerber & Eisenberg LLP

The CARES Act Offers a New Tax Planning Opportunity

One provision of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) involves a "real estate" tax break, which is actually much broader and applies to many taxpayers, and may require the filing of amended tax...more

A&O Shearman

Tax Relief Provisions in the CARES Act Stimulus Package

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The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) is expected to be enacted, as early as March 27, 2020. The CARES Act contains tax provisions intended to provide individuals and companies with liquidity as...more

Ballard Spahr LLP

CARES Act Includes Tax Rebates, Changes to Tax Cuts and Jobs Act, and Several Other Tax-Related Provisions

Ballard Spahr LLP on

The Coronavirus Aid, Relief, and Economic Security Act (H.R. 748; the CARES Act) includes several tax-related provisions, including tax rebates, modifications to the Tax Cuts and Jobs Act (TCJA), hiring and paid leave...more

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