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Proposed Regulations Shed Light on Three-Year Holding Period Requirement for Carried Interest

USA - August 14 2020 Treasury and the IRS issued proposed regulations on July 31, 2020 under Section 1061 of the Code (Proposed Regulations)…

Morgan Klinzing, Saba Ashraf.

Even More Federal and State Tax Filing and Payment Deadlines Extended in Response to COVID-19 Emergency - FAQs on Guidance

USA - April 13 2020 In Notice 2020-23, released on April 9, the Department of the Treasury expanded the relief offered in earlier notices to apply to a broader set of…

Mark A. Goldsmith, Saba Ashraf.

FAQs on CARES Act's Expansion of Ability to Use NOLs, Interest, Depreciation and Other Business Deductions

USA - March 31 2020 The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has significantly changed the use of net operating losses (NOLs), interest…

Howard S. Goldberg, Joel M. Post, Mark A. Goldsmith.

Tax Implications of the CARES Act: FAQs for Businesses

USA - March 31 2020 The Act permits losses incurred in 2018, 2019 and 2020 to be carried back five years. Since 2018, losses could only be carried forward, not carried…

Howard S. Goldberg, Joel M. Post, Mark A. Goldsmith, Robert A. Friedman.

Federal Income Tax Update on Response to COVID-19 Emergency - FAQs on Guidance

USA - March 25 2020 In Notice 2020-18, released on March 25, the Department of the Treasury announced that any person with a federal income tax payment or…

Mark A. Goldsmith.