It may be time for multinational companies operating in the U.S. to review and analyze the quality of their existing transfer pricing documentation or start creating one if they have not done so already.
The CARES Act has made numerous changes to help individuals and businesses recover from the financial difficulties resulting from the COVID-19 pandemic.
The recent economic downturn and coronavirus have forced many business and financial executives and managers to take a 360° look at their business operations and cash flow and then devise a plan to improve operations and profitability and restructure the business.
Now that many businesses have received Paycheck Protection Program (PPP) forgivable loans, and many more have submitted their applications and remain hopeful, the focus has shifted from eligibility and application submission to loan forgiveness.
The Paycheck Protection Program (PPP) clearly represents the most popular of all of the entity focused relief programs authorized by the CARES Act of March 27, 2020.
The COVID-19 health crisis has caught everyone off-guard. Along with the challenges it has presented, there are also opportunities for positive changes.
The Treasury Department and the Internal Revenue Service (IRS) issued guidance on April 21 in the form of Revenue Procedures (Rev. Proc.) 2020-20, 2020-27 and Frequently Asked Questions (FAQs) which provide relief to individuals and businesses affected by travel disruptions arising from the COVID-19 emergency.
In IRS Notice 2020-23 issued earlier this month, the Internal Revenue Service announced that the federal income tax filing and payment due date is automatically postponed to July 15, 2020 if it was due on or after April 1, 2020, and before July 15, 2020.
Recently, Governor Cuomo signed into law the New York State (NYS) Fiscal Year 2020-2021 Budget Bill (Bill) which did not increase taxes but, importantly, decoupled from many of the favorable federal Coronavirus Aid, Relief, and Economic Security (CARES) Act provisions. Discussed below are the Bill’s major highlights.
The U.S. Chamber of Commerce Foundation just announced a new grant program (called the “Save Small Business Fund”) opening today at 3:00 […]