Global Tax Planning in the Post-COVID 19 Economy

Global Tax Planning in the Post-COVID 19 Economy

Reading Time: 3 minutes The global pandemic known as COVID-19 will undoubtedly continue to reverberate throughout the world economy.  As businesses struggle to regain some modicum of normality, questions about business planning will naturally make themselves obvious. ...
How Does the CARES Act Affect R&D Tax Credits?

How Does the CARES Act Affect R&D Tax Credits?

Reading Time: 3 minutes One of the questions we are getting from clients is “If my business has had some recent losses, but we also think we may be eligible for the research and development credit, how does the CARES allow us to maximize the cash tax refunds?” The...
Texas Comptroller Extends Franchise Tax Deadline

Texas Comptroller Extends Franchise Tax Deadline

Reading Time: 3 minutes COVID-19 Tax Update The Texas Comptroller announced April 2, 2020, that his agency is automatically extending the due dates for all 2020 Texas franchise tax reports to July 15 so it is consistent with the Internal Revenue Services (IRS).  Since...
CARES Act – Income Tax Implications

CARES Act – Income Tax Implications

Reading Time: 6 minutes COVID-19 Tax Update The CARES Act includes many income tax implications for both businesses and individuals. Below are summaries of the top provisions from this new legislation. Section 2303 – Modifications for Net Operating Losses The CARES...
Tax Credits for Businesses & Paid Leave for Workers

Tax Credits for Businesses & Paid Leave for Workers

Reading Time: 3 minutes The IRS published news release IR-2020-57 on March 20, 2020, which states that “small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them,...
Federal Tax Filing Deadline Extended to July 15th

Federal Tax Filing Deadline Extended to July 15th

Reading Time: 2 minutes Treasury Secretary Steven Mnuchin announced today that the IRS has extended the national income tax filing day to July 15th. The filing deadline now coincides with the federal tax payment deadline that was extended by the Treasury on Tuesday,...
Treasury Announces Tax Payment Relief

Treasury Announces Tax Payment Relief

Reading Time: 3 minutes COVID-19 Tax Update Today, Treasury Secretary Steven Mnuchin announced that individuals can defer tax payments up to $1 million for 90 days and corporations can defer tax payments up to $10 million for the same period. Specific details on tax...