The current administration’s whipsaw of imposed and withdrawn tariffs continues to rattle financial markets and industries across the United States.
In New England, annual trade of goods and services with Canada exceeds...more
Maine Revenue Services has announced that it has automatically extended the 2019 filing deadline (on extension) for Maine corporate income taxpayers from October 15, 2020 to November 16, 2020....more
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
7/16/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Income Taxes ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Sick Pay ,
State and Local Government ,
State Taxes ,
Tax Planning
On June 4, 2020, in response to the ongoing COVID-19 pandemic, the IRS issued Notice 2020-39 to provide relief regarding various deadlines applicable to the federal opportunity zone program....more
6/8/2020
/ Capital Gains ,
Community Development ,
Deadlines ,
Economic Development ,
Investment Funds ,
IRS ,
Opportunity Zones ,
Real Estate Development ,
Real Estate Investments ,
Tax Deferral ,
Tax Incentives ,
Tax Planning ,
Tax Relief
On May 16, 2020, Maine Revenue Services released a Tax Alert, updating taxpayers on a number of tax-related developments, including Governor Mills’ May 12 executive order and updated MRS FAQ answers....more
Late on April 30, 2020 the IRS provided rather unwelcome guidance to Paycheck Protection Program (PPP) loan borrowers and potential borrowers. IRS Notice 2020-32 provides that no deduction will be allowed for otherwise...more
Maine Governor Janet Mills recently announced that the second quarter estimated tax payment deadline has been extended to July 15, 2020. ...more
Due to the ongoing COVID-19 pandemic, the state of Maine has extended its property tax exemption application deadlines, and New Hampshire is now offering some business tax and interest and dividends tax relief....more
The IRS recently announced that it is ending its Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. ...more