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Tax Alerts

Subscribe today to receive tax updates at the frequency you prefer. Tax Alerts offer timely notification of the latest changes in federal, state and international tax legislation, court rulings and tax authority positions, distributed as the news breaks. Tax Alerts Roundup compiles each of these alerts in a biweekly newsletter for your convenience.

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most recent tax alerts

IRS updates FAQs on CARES Act employee retention credits

IRS updates FAQs on CARES Act employee retention credits

The IRS has issued updated questions and answers regarding CARES Act employee retention credits for employers impacted by COVID-19.

  • Jill Harris, Karen Field, Bill O’Malley
  • |
  • May 29, 2020
IRS pushes deadlines for some employee benefits and exempt orgs

IRS pushes deadlines for some employee benefits and exempt orgs

Deadlines postponed for certain employment taxes, employee benefit plans, IRAs, HSAs, MSAs and other time-sensitive actions.

  • Anne Bushman, Alexandra Mitchell, Julia Barlow
  • |
  • May 29, 2020
New IRS website guidance regarding CARES Act NOL carrybacks and AMT

New IRS website guidance regarding CARES Act NOL carrybacks and AMT

Questions and answers about how NOL carryback refund claims should address AMT calculations are now available on the IRS’ website.

  • Stefan Gottschalk, Alina Solodchikova, Andrew Mizer
  • |
  • May 29, 2020
IRS to allow electronic filing of Form 1040X this summer

IRS to allow electronic filing of Form 1040X this summer

The IRS announced the addition of 2019 Form 1040X to the library of electronic filings beginning this summer.

  • Carol Warley, Rebecca Warren
  • |
  • May 28, 2020
Michigan Supreme Court: Services must be sourced to Detroit

Michigan Supreme Court: Services must be sourced to Detroit

Services performed in Detroit for clients located outside the city should be sourced to Detroit for purposes of the city’s income tax.

  • Harlan Kwiatek, John Wozniczka, Tom Blaze
  • |
  • May 28, 2020
U.S. tax treaties will interpret NAFTA as USMCA

U.S. tax treaties will interpret NAFTA as USMCA

Treasury released guidance indicating that references to NAFTA can be interpreted as USMCA for purposes of U.S. tax treaties.

  • Ramon Camacho, Ravi Dadlani
  • |
  • May 27, 2020
SBA formalizes loan forgiveness guidance; loan review procedures

SBA formalizes loan forgiveness guidance; loan review procedures

SBA releases authoritative loan forgiveness guidance as well as SBA loan review procedures and borrower responsibility.

  • Justin Stallard, Karen Field, Ryan Corcoran
  • |
  • May 27, 2020
IRS operations status update

IRS operations status update

IRS issues new release detailing limited resumption of certain operations and advising taxpayers on alternatives for inoperative functions.

  • Evan Stone, Alina Solodchikova, Whitney Brady
  • |
  • May 21, 2020
European Commission proposes extension of DAC6 filing deadlines

European Commission proposes extension of DAC6 filing deadlines

In response to the COVID-19 crisis, the European Commission has formally proposed the deferral of certain deadlines under DAC6.

  • Ramon Camacho, Ravi Dadlani
  • |
  • May 21, 2020
FASB delay of ASC 606 adoption for certain issuers may impact tax

FASB delay of ASC 606 adoption for certain issuers may impact tax

Delay in ASC 606 for private companies that have not yet issued financial statements may have tax implications.

  • Christian Wood, Tracy Watkins, Ryan Corcoran
  • |
  • May 21, 2020