April 9, 2020: The Treasury Department and the Internal Revenue Service issued Notice 2020-23, which amplified Notice 2020-18 and Notice 2020-20 and modified Rev. Proc. 2014-42 with respect to calendar year 2020, and provided additional relief, postponing certain time-sensitive actions. Generally, Notice 2020-23 provides that any person who has a federal tax return or other form filing obligation specified in the Notice that is due to be performed (originally or pursuant ... Keep Reading »
COVID-19: CARES Act and FFCRA Tax Provisions
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provides relief to taxpayers affected by COVID-19. The CARES Act is the third round of federal government aid related to COVID-19. The following is a summary and analysis of the tax provisions of the CARES Act (and the Families First Coronavirus Response Act (FFCRA), effective as of April 1, 2020) to assist you in determining how they may affect or ... Keep Reading »
A Primer on Employment Taxes
We noticed an uptick in employment tax issues, so thought a primer on employment taxation basics would be helpful. While this may be of general interest to in-house counsel and human resources professionals, it is probably more useful to payroll professionals (so feel free to forward this to your favorite payroll department employee!). Employment Taxes To be clear, when we reference "employment taxes," we refer to the taxes other than income taxes that an employer must ... Keep Reading »
Comprehensive Tax Reform in the News: The Republican Framework Released
On September 27, Republican leadership from the House, Senate, and the Trump administration released the “Unified Framework for Fixing Our Broken Tax Code” (the “Framework”). The Framework outlines, in largely broad, general terms, the Republican goals and vision for comprehensive tax reform. The reform’s stated goals include increasing simplicity, providing tax relief for businesses and middle-class families, and ending incentives to ship jobs, capital, and tax revenue ... Keep Reading »