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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 issues relief for the gift and GST tax deadline

IRS issues relief for the gift and GST tax deadline

The IRS issued guidance permitting an automatic extension for gift and GST tax filings and payments until July 15th

  • Carol Warley, Rebecca Warren
  • |
  • March 30, 2020
Accounting for the tax provisions  of the CARES Act

Accounting for the tax provisions of the CARES Act

Companies should reflect the changes in tax law under the CARES Act in the period of enactment for financial statements.

  • Al Cappelloni, Darian Harnish
  • |
  • March 27, 2020
The CARES Act passes

The CARES Act passes

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

  • Christian Wood, John Charin, Ryan Corcoran
  • |
  • March 27, 2020
IRS LB&I Division suspends IDR enforcement

IRS LB&I Division suspends IDR enforcement

The LB&I Division of the IRS announced that it would suspend the enforcement of information requests sent during audits.

  • Evan Stone, John Deininger
  • |
  • March 27, 2020
U.S. Senate finalizes COVID-19 legislation; sends to House for vote

U.S. Senate finalizes COVID-19 legislation; sends to House for vote

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

  • Alexandra Mitchell, Carol Warley, Joni Andrioff
  • |
  • March 26, 2020
Section 163(j) interest deduction limitation COVID-19 relief

Section 163(j) interest deduction limitation COVID-19 relief

CARES Act provides general increase to the limitation amount (i.e., the maximum allowable deduction) and special rule for partnerships

  • Stefan Gottschalk, Ben Wasmuth
  • |
  • March 26, 2020
Government issues guidance on Families First Coronavirus Response Act

Government issues guidance on Families First Coronavirus Response Act

Mandatory paid leave for employees impacted by COVID-19 is set to start April 1, 2020, per new Department of Labor guidance.

  • Tom Windram, Jill Harris, Karen Field
  • |
  • March 26, 2020
IRS announces its People First Initiative - IR-2020-59

IRS announces its People First Initiative - IR-2020-59

As part of the COVID-19 effort, IRS temporarily adjusts and suspends key compliance program April 1, 2020- July 15, 2020

  • Evan Stone, Alina Solodchikova, Cindy Hull
  • |
  • March 26, 2020
IRS letters request information on micro-captive transactions

IRS letters request information on micro-captive transactions

IRS is increasing its enforcement efforts relating to micro-captive transactions and providing guidance on how to remove benefits claimed.

  • David Click, Trina Pinneau
  • |
  • March 25, 2020
CARES Act delivers five-year NOL carryback to aid corporations

CARES Act delivers five-year NOL carryback to aid corporations

Coronavirus Aid, Relief and Economic Security Act provides liquidity by providing five-year NOL carryback and other help for corporations.

  • Nick Gruidl, Joseph Wiener, Sarah Lieberman
  • |
  • March 25, 2020