Ideas & Insights

Today, the House of Representatives passed the CARES Act on a voice vote and the President signed the bill enacting it into law.

Act contains broad relief for individuals and businesses; includes funding vehicles, recovery payments, and modifications to TCJA provisions

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.

Cayman Islands has extended the deadline for filing 2019 FATCA and CRS reports to September 2020 and intends to launch a new portal.

Global employers need to be aware of the risks they face as they navigate through the complexities posed by COVID-19.

On March 19, the U.S. Senate released the third round of emergency assistance resulting from the 2020 COVID-19 pandemic.

A taxpayer was assessed willful failure to file FBAR penalties after voluntarily withdrawing from OVDP program.

Rev. Proc. 2020-17 grants information reporting and penalty relief to individuals with respect to applicable tax-favored foreign trusts

Altera petitions the Supreme Court of the United States to hear case regarding validity of cost sharing arrangement regulations.

U.S. investment funds, banks and other FIs with foreign investors may need to remediate volumes of tax withholding certificates.

Tax Policy Now podcast examines filing tax returns now or pursue an extension, given the wait for Treasury Department legislative action.

Advisor must document amounts used to “investigate” an actual buy or sell – a study may make sense if amounts are substantial.

In early September, Mexico released a proposed tax reform package with significant changes in the country’s international tax regime.

IRS has issued final regulations narrowing nonrecognition treatment for certain transfers of property to partnerships with foreign partners.

The IRS is willing to consider relief from double taxation resulting from the application of section 965 in limited circumstances.

RSM’s tax leaders bring insight on upcoming policy shifts for the Tax Cuts and Jobs Act in a short audio cast.

There are five key actions to take now to prepare to file information returns in January to ensure compliance with FATCA.

RSM's virtual summit on transformative tax issues facing the middle market is available as an on-demand webcast.

Join us for a webcast to learn about IRS trends and changes in U.S. tax information reporting and withholding requirements.