This week the U.S. Treasury Department announced it is delaying the income tax deadline for individuals from April 15, 2021 to May 17, 2021. This includes 2020 Form 1040 tax returns, extensions thereon and any remaining 2020 federal tax liabilities. While the IRS stated that the purpose is to... Read more
The American Rescue Plan Act of 2021 (ARPA) was signed into law on March 11. The $1.9 trillion ARPA is the latest U.S. legislation package designed, among other things, to address the ongoing impacts on Americans and our economy of the coronavirus pandemic. Following are key tax-related provisions of... Read more
The coronavirus pandemic has introduced uncertainty into every facet of our lives. We are concerned about the health and safety of our families and friends, and many of us are grappling with significant business issues such as cancelled orders, slow collections of accounts receivable, layoffs, supply chain interruptions and... Read more
As the dust settles from an ugly political season, the inauguration of Joe Biden as the new U.S. president set in motion what many believe will be tax law changes that could impact multinational corporations doing business in the U.S. With Mr. Biden’s Democrat party maintaining its majority in... Read more
The $900 billion Consolidated Appropriations Act, 2021 (CAA), which became law in December, provides additional pandemic-related financial relief to individuals and small businesses and addresses the disputed tax deductibility of business expenses paid with forgiven loans. Of particular interest to businesses are the changes the CAA makes to the... Read more
The President has signed into law the $900 billion Consolidated Appropriations Act, 2021 (CAA). It provides one-time relief payments to adults and children, adds to extended weekly unemployment benefits, and provides aid for small businesses with new Paycheck Protection Program (PPP) funding, along with a number of other targeted... Read more
