On April 30, 2020, the Internal Revenue Service (the “IRS”) released Notice 2020-32. The Notice sets forth the IRS’s position that no deduction is allowed for federal income tax purposes for any expense paid with loan...more
As expected, the Internal Revenue Service (“IRS”) has begun to address some of the details left open by the business tax provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). This Alert...more
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act is a $2 trillion economic aid package, which makes numerous changes to the federal tax laws to...more