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U.S. Federal and State Tax Filing Deadlines Under COVID-19

On 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.

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Final Regulations Partially Mitigate Overbroad Controlled Foreign Corporation Attribution Rules Passed as Part of 2017 U.S. Tax Reform

January 28, 2020
Despite new final tax regulations, U.S. taxpayers continue to deal with unexpected tax consequences of the overbroad rule change to the Controlled Foreign Corporation regime.
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Is the interest expense deductible for US non-resident aliens owning a U.S. real property interest?

November 29, 2017

Loaning between business entities is a widely-adopted business strategy in the real estate industry. Multiple levels of entities are often chosen in a business structure. U.S. limited liability companies (“LLC”) are commonly used to hold U.S. real property interests. When foreign investors are involved for various reasons (i.e., asset protection), foreign investors use a non-U.S. […]

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Washington Business and Occupation Tax

March 18, 2014

Many Canadian businesses are unaware of the Washington Business and Occupation (“B&O”) Tax when they do business with customers in the State of Washington. The B&O tax is a gross receipts tax levied by various levels of government in Washington. It is calculated based on the gross proceeds of sales, gross revenue of the business, […]

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