The Coronavirus Aid, Relief and Economic Security Act (H.R. 748) (the CARES Act or the Act) contains a group of eight provisions that are designed to provide significant tax benefits to businesses. Prompt actions will be...more
Update: On the evening of March 18, 2020, the President signed this bill into law.
Earlier this week we detailed Congress’ second sweeping legislative package in response to the COVID-19 epidemic. Since then, the House of...more
The IRS recently published an Office of Chief Counsel Memorandum, ILM 201830011, in which a taxpayer’s entire success fee paid to an investment bank had to be capitalized instead of deducted. The memo concluded that...more