United States
SBA releases draft application as well as a program guide for the Restaurant Revitalization Fund. Potential applications should review.
In response to the pandemic, the Canadian government introduced support programs that could benefit U.S. multinationals.
Information on the instant asset write-off and tax loss carryback measures in Australia with potential tax savings for clients.
A roundup of considerations for companies while preparing income tax provisions for the year-ended Dec. 31, 2020.
SBA/Treasury release various guidance items over the past week; updated and streamlined loan forgiveness applications.
PPP loan forgiveness application provides clarity on measuring payroll periods, eligible costs and loan forgiveness reduction calculations.
The CARES Act includes beneficial tax relief. Coupled with sophisticated planning, now is the time to revisit your individual tax strategy.
Funds holding distressed debt may consider whether accrual of interest income may be stopped under the ‘doubtful collectability’ exception.
Companies should reflect the changes in tax law under the CARES Act in the period of enactment for financial statements.
CARES Act provides general increase to the limitation amount (i.e., the maximum allowable deduction) and special rule for partnerships
Coronavirus Aid, Relief and Economic Security Act provides liquidity by providing five-year NOL carryback and other help for corporations.