Ideas & Insights

The IRS updated taxpayers on its operations status and recognized the delays in processing check payments due on July 15, 2020.

The recent IRS Notice provides relief in the form of flexibility for investment timing and testing periods for QOFs and their investors.

TTB issued FAQs providing guidance for refund claims on taxpaid beer for brewers when unmerchantable beer is destroyed during COVID-19.

The U.S., Cayman, and other jurisdictions extend deadlines for filing FATCA and CRS reports, but exams and compliance programs continue.

Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.

Recent guidance extends certain deadlines for LIHTC, WOTC, and Historic Rehabilitation tax credits because of COVID-19.

Recent guidance provides that certain deadlines, including the allowable time to invest in a QOF, are now extended because of COVID-19.

The IRS issued guidance extending the time for taxpayers to file certain Form 3115s and Form 1128s to July 15, 2020.

As businesses renegotiate debts in the aftermath of COVID-19, it is critical to understand whether the debt is considered publicly traded.

Accelerating worthless stock deductions on an insolvent subsidiary without disposing of the business to increase NOL carrybacks.

Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.