News & Analysis as of

Taxation Coronavirus/COVID-19

McDermott Will & Schulte

“Big, Beautiful Bill”: Federal Tax Bill Would Restrict the Employee Retention Credit

A sweeping federal tax bill that is currently under consideration in the US House of Representatives contains provisions that would significantly change the administration and enforcement of the Employee Retention Credit...more

McDermott Will & Schulte

Weekly IRS Roundup June 20 – June 23, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the shortened week of June 20, 2023 – June 23, 2023. (June 19 is a federal holiday.)...more

Cozen O'Connor

Cozen Cities - May 19, 2023

Cozen O'Connor on

Chicago Mayor Lightfoot Announces Apprenticeship Program to Create, Grow Technology Talent in City Government, Improve City Services Now former-Mayor Lori Lightfoot and various city departments announced an apprenticeship...more

Flaster Greenberg PC

Digital, Digital Break Down: How to Make Sure You’re *NSYNC with IRS Changes for Reporting Virtual Payment Transactions

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You may have seen recent headlines warning that the IRS is tracking certain transactions paid using digital payment services such as Paypal, Cash App, Zelle, and Venmo. Even worse, you may have wondered whether a new law...more

Faegre Drinker Biddle & Reath LLP

Luxembourg Again Extends Cross-Border COVID-19-Related Agreements with Belgium

As we have previously discussed, Luxembourg has developed solutions with its neighboring nations to ease the economic burden of the COVID-19 pandemic on workers. Specifically, Luxembourg authorities worked with their...more

Verrill

Faculty Retirement Incentive Programs: What Does the Law Permit?

Verrill on

A recent survey of full-time college and university faculty found that, as of the beginning of the 2020-2021 academic year, approximately 25% of those surveyed expected to retire later than they had anticipated before the...more

McDermott Will & Schulte

Globally (Not So) Mobile Employees: Taxation of Equity Awards in a COVID-19 World

The rules relating to the US taxation of equity awards in an international context are often complex and sometimes uncertain. This On the Subject explores how COVID-19-related travel restrictions affect the US taxation of...more

White and Williams LLP

IRS Issues Guidance on Tax Impact of PPP Loan Forgiveness Under the CARES Act

The Internal Revenue Service (IRS) recently issued Notice 2020-32 (Notice), which discusses the deductibility of expenses that are funded by a Paycheck Protection Plan (PPP) loan and the subsequent loan forgiveness. Section...more

McDermott Will & Schulte

Globally (Not So) Mobile Employees: Taxation of RSU Equity Awards in a COVID-19 World

The rules relating to the US taxation of restricted stock units (RSUs) in an international context are often complex and sometimes uncertain. This On the Subject explores how COVID-19-related travel restrictions affect the US...more

McDermott Will & Schulte

COVID-19 State and Local Tax Updates

Brief Overview of Guidance Issued in Response to COVID-19...more

Ballard Spahr LLP

Philadelphia Announces Relief for Property and Business Taxes and Provides Wage Tax Guidance for Displaced Workers

Ballard Spahr LLP on

The City of Philadelphia Revenue Department announced administrative extensions to the due dates for 2020 real estate taxes (originally due March 31, 2020) and 2019 business taxes (originally due April 15, 2020)....more

Benesch

Customs Duty Payment Extensions Available For COVID-19 Emergency

Benesch on

U.S. Customs and Border Protection (“CBP”) issued bulletin CSMS #42097586 on March 20, 2020, advising that payment of import duties may be deferred under certain circumstances due to the COVID-19 outbreak.  Specifically,...more

Hogan Lovells

COVID-19 in Poland: Tax alert no.1

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In anticipation of the draft government shield package for entrepreneurs, we present below the tools resulting from applicable regulations that you can use already today to eliminate the negative economic effects of the...more

Goodwin

COVID-19: Tax Residence Status of Companies

Goodwin on

The global impact of the novel coronavirus (COVID-19) is leading to unprecedented changes in working practices. In particular, travel restrictions and, in many cases, border closures are already causing, and will continue to...more

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