Posts by Rosanna DiFilippo

Net Operating Losses
FAQ: CARES Act Impacts on Net Operating Losses

Given the significant role NOLs can play in increasing cash flow and helping to mitigate…

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International Tax Considerations During COVID-19
International Tax Considerations Relating to Repatriation in Light of COVID-19

Due to liquidity and cash flow needs, such U.S. taxpayers may need to repatriate cash…

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Calendar
IRS Expands COVID-19 Postponement Relief

Federal tax payments and returns eligible for relief are expanded. Any tax return or payment…

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ASC 740 Accounting for Income Taxes
ASC 740 Income Taxes — Implications of COVID-19 and the CARES Act

The CARES Act includes several business provisions that may impact a company’s accounting for income…

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April 15th Tax Deadline Delayed to July 15th
IRS Extends Federal Tax Filing Deadline to July 15th

The tax filing deadline was officially extended to July 15th, giving individual, trust and corporate…

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Treasury Delays April 15th Tax Deadline
Updated: U.S. Treasury Delays April 15th Tax Payment Deadline

The IRS will suspend penalties and interest for up to 90 days for payments related…

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Pen on signed IRS income tax form and financial data
Proposed Income Regulations Provide Clarity for Accrual Method Taxpayers

On September 5, 2019, the IRS and Treasury released proposed regulations addressing the timing of…

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Proposed Regulations on Tax Treatment of Revenues from Cloud and Digital Content Transactions

The Internal Revenue Service (IRS) and the Department of Treasury (Treasury) recently released proposed regulations…

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Proposed FDII Regulations Provide Taxpayers With Guidance

Effective for tax years beginning after December 31, 2017, corporate taxpayers that engage in certain…

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Business Meeting Between Shareholders and Managers
IRS to Keep Ruling on Section 355 Transactions After Pilot Program Ends

The pilot program has been significant for taxpayers seeking greater certainty on the tax consequences…

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