Special thanks to guest contributor, Christopher Guldberg.
The Internal Revenue Service has issued welcome guidance related to the COBRA subsidy provisions under the American Rescue Plan Act (“ARPA”) in the form of IRS Notice 2021-31 (the “Notice”).
As background, for the period from April 1, 2021, through September 30, 2021, ARPA requires employers to
On March 31, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin announced that the SBA and Treasury Department have initiated a “robust” mobilization effort of banks and other lending institutions to provide small businesses with $349 billion in much-needed capital pursuant to the Paycheck Protection Program, established by the Coronavirus Aid, Relief, and
On Friday, March 20, 2020, the Internal Revenue Service (IRS), US Department of Labor (DOL), and US Department of the Treasury published a joint news release (Release) regarding tax credits available to employers who will be required to provide paid sick and family care leave for COVID-19-related purposes under the Families First Coronavirus Response Act
Texas companies that send their employees on international assignment shouldn’t let their employees figure out their US federal income taxes by themselves. A case in point is a recent Tax Court Memorandum decision, Gerencser v. Commissioner of Internal Revenue, where the taxpayer not only lost to the IRS but was assessed with penalties as well. A well-written global mobility policy that requires expats to use the company’s designated tax return preparer is best practice, but surprisingly not all companies take this approach. Because a failure by the expat to properly compute taxes could, in fact, subject the employer to liability, it is important that companies review their global mobility policies.
Continue Reading Expatriate Taxation – Don’t Be a Cowboy!
