On Jan. 13, 2021, Shareholder Glenn Newman presented on a Risk Strategies panel titled “Perspectives on Sales Tax Compliance Post-Wayfair.” Click here to listen to the recording.…

Shareholder Marvin Kirsner, co-chair of the firm’s State & Local Tax (SALT) Practice, has been recognized as a 2020 “Go-To Thought Leader” for Tax Law. Marvin focuses on corporate, transactional, and industry-specific tax issues. He is a prolific writer, frequently sharing insights on the evolving tax arena. Kirsner regularly authors GT Alerts, and is a contributor to several of the firm’s blogs. Read the full GT press release here.…

The Coronavirus Disease 2019 (COVID-19) stimulus package signed into law by President Trump on Dec. 27 contains significant enhancements to the employee retention tax credit enacted under the CARES Act. The credit initially provided a 50% tax credit, which is refundable and easily monetized, for companies that continue paying their employees, even though the business might be closed due to a COVID-19 lockdown, or suffering a significant decline in gross receipts due to loss of…

On Dec. 21, 2020, Congress passed a COVID-19 relief bill (the Consolidated Appropriations Act, 2021) including the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which would provide much-anticipated extensions to critical alternative energy tax credits (including those for wind and solar projects) certain of which were on the brink of expiring. Generally, the bill provides for one- to two-year extensions depending on the energy generated from the project and modifies existing tax credit…

On 16 November 2020, the Dutch government published a protocol to amend the “Convention between the Kingdom of the Netherlands and the Republic of Poland for the elimination of double taxation with respect to taxes on income and the prevention of tax evasion and avoidance.” This followed the signing of the Protocol on 29 October 2020 in which the intentions of the countries were agreed upon. Continue reading the full GT Alert, which summarizes the Protocol.…

On Dec. 16, 2020, New York legislation was submitted to impose an unincorporated business tax (UBT) on partnerships and limited liability companies that are treated as partnerships for federal tax purposes. The legislation is intended to provide a workaround for the $10,000 limitation on deductions of state and local taxes (SALT) put in place in the Tax Cuts and Jobs Act of 2017 and was recently given the green light in IRS Notice 2020-75.…

With the possible advent of widespread regional Coronavirus Disease 2019 (COVID-19) lockdowns around the United States, it is an appropriate time for a reminder about the availability of the 50% employee retention tax credit for wages paid to employees while a business is shut down. Continue reading the full GT Alert.…