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May 14, 2020
by Mike Godfrey, Tax-News.com Washington 15 May 2020 On May 1, 2020, the United States Internal Revenue Service (IRS) Large Business and International Division (LB&I) announced a new compliance campaign focusing on the 2017 Tax Cuts and Jobs Act and the recently enacted Coronavirus Aid, Relief and Economic Security (CARES) Act. The TCJA was signed...
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by Mike Godfrey, Tax-News.com Washington 15 May 2020 On May 4, 2020, a bill was introduced in the United States House of Representatives to limit the impact of the Global Intangible Low Tax Income (GILTI) regime on businesses based in US territories and possessions. According to Stacey E. Plaskett, who represents the US Virgin Islands...
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by Mike Godfrey, Tax-News.com Washington 15 May 2020 On May 7, 2020, the United States Internal Revenue Service issued a reminder to employers affected by COVID-19 about the tax credits made available to them under the Coronavirus Aid, Relief, and Economic Security Act. These relief measures include: The employee retention credit The employee retention credit...
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