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NOL Flexibility Remains A Sticking Point In Virus Relief Bill

By Alan K. Ota

Republicans are looking to help farmers by reshaping a newly enacted five-year carryback allowance for net operating losses, while Democrats may be losing ground in their drive to downsize the carryback incentive in legislation addressing economic fallout from the coronavirus.

US Must Face Stimulus Check Suit By Spouses Of Immigrants

By Dylan Moroses

The IRS and U.S. Treasury Department must face a suit brought by Americans who lost out on their federal stimulus checks because they are married to immigrants without Social Security numbers, a Maryland federal court said.

NYC Comptroller Pitches Small-Biz Tax Breaks Amid COVID-19

By James Nani

New York City's comptroller on Wednesday pitched business income tax credits, elimination of the city's 25% tax on liquor licenses, and tax incentives for retailers in high-vacancy corridors as part of a small-business relief program amid the COVID-19 pandemic.

Coronavirus Regulations: A State-By-State Week In Review

By Jeannie O'Sullivan

Legal and enforcement battles related to the COVID-19 pandemic raged this week with cases continuing to surge in various regions, as the East Coast states divided their time between responding to the pandemic and preparing for Tropical Storm Isaias. 

GILTI High-Tax Relief To Help With Virus Relief, Official Says

By Alex M. Parker

An allowed option to retroactively apply an exemption to high-taxed income will help companies reeling from the economic downturn brought by the novel coronavirus pandemic, an official from the U.S. Treasury Department said at a webinar Tuesday.

Key Tax Considerations For Cos. With Remote Employees

By Elizabeth Smith, Isabelle Farrar and Andrew Yarrows

As remote work continues due to COVID-19, businesses navigating complex tax jurisdiction questions should diligently maintain employee location records for nexus and apportionment purposes, and make sure to account for differing state withholding and sourcing rules, say attorneys at Ropes & Gray.


Expert Analysis

Congress Should Revisit CARES Act Tax Provisions

To bolster the Coronavirus Aid, Relief and Economic Security Act, Congress should consider provisions that accelerate tax refunds for net operating losses and abrogate flawed IRS Paycheck Protection Program guidance that undermines prior stimulus legislation by eliminating loan recipients' tax deductions, says Joseph Mandarino at Smith Gambrell.

Regulatory Concerns For US Cos.' Offshore Service Centers

As more U.S. companies open and use offshore service-delivery centers amid the pandemic, assessment of important tax, intellectual property, cybersecurity and employment considerations can help mitigate regulatory risk and maximize the company's return on investment, says Sonia Baldia at Baker McKenzie.

Ohio Tax Talk: Rethinking The Work-From-Home Tax

A recent lawsuit challenging Ohio’s new law that taxes employees working from home during the coronavirus state of emergency as if they were working at their old workplaces demonstrates that municipal income tax methods will need to evolve, says Christopher Tassone at Frost Brown.

MORE COVERAGE

August 3, 2020 05:51 PM

South Africa Plans To Extend COVID-19 Tax Relief Measures

July 30, 2020 09:16 PM

Justices Halt Idaho Ballot Measure Initiative For Tax Hike

July 29, 2020 03:57 PM

Senate GOP Mounts Push For Biz Tax Credits In Virus Talks

July 29, 2020 11:19 PM

​​​​​​​Dems Seize On Words Of Roberts, Kavanaugh To Save ACA

July 28, 2020 05:53 PM

PPP Borrowers Might Take Biz Deductions Despite IRS Notice

July 28, 2020 07:10 PM

Coronavirus Regulations: A State-By-State Week In Review

July 28, 2020 05:45 PM

Sen. Graham Pushes Tax Break Bill For PPE Repatriation

July 28, 2020 08:04 PM

NYC Council Bill Would Waive Biz Rent Tax Amid Virus

July 27, 2020 09:06 PM

Senate GOP Bill Offers $1,200 Checks, Expanded Tax Credits

July 27, 2020 09:52 PM

Senate GOP Unveils $1T Virus Relief Package

July 27, 2020 08:12 PM

Africa Tax Chiefs' Report Tackles COVID-19 Fiscal Challenges

July 27, 2020 07:03 PM

Fracas Over 'Rescue Panel' Plan May Slow Deal On Virus Bill

July 27, 2020 09:10 PM

With IP Repatriation, House GOP Draws Flak On Virus Relief

July 24, 2020 04:24 PM

GOP Hopes Narrow Tax Breaks Can Win Support In Virus Bill

July 24, 2020 01:45 PM

European Lawmakers Threaten To Block Historic EU Budget

July 23, 2020 05:59 PM

GOP Sens. Float Bill To Allow 'Catch-Up' 401(k) Contributions

July 23, 2020 01:43 PM

Disabled Nonfilers Sue IRS Over Virus Payment Deadline

July 23, 2020 08:03 PM

OECD Considers Transfer Pricing Guidance Amid Pandemic

July 23, 2020 06:09 PM

Idaho Warns High Court Of Harm From Tax Signature Drive

July 23, 2020 11:39 AM

GOP Virus Plan Won't Have Payroll Tax Cut, Mnuchin Says