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COVID-19 Pandemic: Assorted U.S. Corporate and Business Tax Relief Provisions
With the spread of the global COVID-19 pandemic to the U.S., and the resulting impact it has had on the U.S. economy, the U.S. Congress has responded by passing numerous tax law changes to assist small businesses and individuals. Although there are many changes that have been enacted, the following is a general summary of […]
2020 Democratic Presidential Candidates’ Tax Plans
March 25, 2020The Super Tuesday primary results quickly provided clarity to the Democratic nomination contest by further winnowing the field of candidates down to only Joe Biden and Bernie Sanders. One area where the Democratic candidates agree is that taxes should be increased on wealthy individuals and corporations. However, there are material differences between the proposals put […]
U.S. Federal and State Tax Filing Deadlines Under COVID-19
March 23, 2020On March 20, 2020, U.S. Treasury Secretary Steven Mnuchin announced that the date for both filing and payment of certain U.S. federal income taxes has been deferred from April 15th to July 15th in response to COVID-19. This deferral applies to individuals and business taxpayers of U.S. federal income tax.
The IRS issues long-awaited good news for US persons regarding reporting and filing requirements for Canadian tax-favored foreign trusts
March 4, 2020