While relief has been granted for federal and California income tax filing and payment obligations (see prior coverage here and here) the same cannot be said for local property tax obligations. To avoid penalties, the next payment deadline for California property taxes remains April 10, 2020. Property tax payment deadlines are set by California state law and cannot be extended by either the Board of Equalization or local county assessor offices (see BOE statement) ...
New extension of deadlines for compliance with the tax obligations is established as a result of the extension of the declaration of national emergency Due to the extension of the State of National Emergency until April 12, 2020, through Superintendence Resolution No. 065-2020/SUNAT published on March 30, 2020, new expiration dates are established for certain tax obligations: A ...
Default interest rates on tax debts and refunds are lowered.- Through Superintendency Resolution No. 066-2020/SUNAT, published on March 31, 2020, the following is established from April 1, 2020: i) The default interest rates (TIM) on tax debts in national currency will be 1% per month; and in foreign currency, it will be 0.50% per month. ii) The interest rate for reimbursement in national currency made for undue or excess payments will be 0.42% per month ...
Default interest rates on tax debts and refunds are lowered.- Through Superintendency Resolution No. 066-2020/SUNAT, published on March 31, 2020, the following is established from April 1, 2020: i) The default interest rates (TIM) on tax debts in national currency will be 1% per month; and in foreign currency, it will be 0.50% per month. ii) The interest rate for reimbursement in national currency made for undue or excess payments will be 0.42% per month ...
Many regulated entities are struggling to comply with certain environmental reporting, monitoring and settlement agreement requirements because of the impact of shelter in place orders, supply chain disruptions, and social distancing requirements relating to the COVID-19 pandemic response ...
Through the Decree 474 of 2020, the Ministry of Culture regulates Article 178 of Law 1955, 2019 (National Development Plan 2018-2022) regarding the issuance of Audiovisual Investment Certificates in Colombia (the “Certificates”). The Certificates are tradable securities issued by the Ministry of Culture to producers that develop audiovisual compositions within the territory and that are not required to file an income tax return in Colombia ...
In response to the State of Health Emergency, and the State of Economic, Cultural and Ecological Emergency, issued by the National Government, the Public Utilities Superintendence mentions that the events of climate variability can threaten the provision of public water utility by reducing water resources ...
The Ministry of Culture issued Decree 475, 2020, to amend the cultural sector’s conditions due to coronavirus. Due to the health crisis, the Ministry of Culture issued Decree 475, 2020, to amend the payment conditions of the pro-culture stamp duty, the contribution to public shows and the film development fee are modified. According to Decree 475, 2020, Governors and Mayors must transfer 20% of the culture stamp duty for the social security of creators and cultural managers ...
On Friday, March 27, 2020, the U.S. Department of the Treasury issued Notice 2020-20, which postpones the filing and payment deadline for any taxpayer who is required to file Form 709 (U.S. Gift and Generation-Skipping Transfer Tax Return) or who has Federal gift or generation-skipping transfer tax payments due on April 15, 2020 ...
The Public Utility Commission of Texas (PUCT or Commission) issued three orders on March 26, 2020, establishing a new COVID-19 Electricity Relief Program for residential customers and modifying certain regulatory requirements applicable to retail electric providers (REPs) and electric utilities, including transmission and distribution utilities (TDUs) ...
On March 27, 2020, Congress passed the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). This historic $2 trillion relief package received bipartisan support and is part of the third wave of federal government support as the nation copes with the acute economic fallout from the coronavirus (COVID-19) pandemic. The CARES Act, among other things, aims to provide significant aid to businesses and employees ...
President Trump signed the Families First Coronavirus Response Act (“FFCRA” or “the Act”) into law on March 18. The Act requires employers with fewer than 500 employees to provide their employees with paid sick leave and expanded Family and Medical Leave Act rights, subject to exceptions for certain healthcare providers, emergency responders, and businesses with fewer than 50 employees if compliance would jeopardize the business as a going concern ...
On March 26, 2020, the U.S. Environmental Protection Agency (EPA) announced a temporary policy on its enforcement of environmental obligations during the COVID-19 pandemic. Many facilities are experiencing unexpected constraints arising from the pandemic, including limited availability of key staff, contractors, and laboratories ...
On March 26, 2020, the U.S. Environmental Protection Agency (EPA) announced a temporary policy on its enforcement of environmental obligations during the COVID-19 pandemic. Many facilities are experiencing unexpected constraints arising from the pandemic, including limited availability of key staff, contractors, and laboratories ...
Perhaps, one of the facts which creates the highest expectations among those of us who manage the second or third defense line is risk materialization. That is to say, for a risk to become an event and generate some kind of impact. And from there on, the possibility of verifying the effectiveness of the controls designed, the residual risk and feeding back the matrix ...
The British government has adopted stringent measures to reduce the spread of the novel coronavirus effective from 23 March 2020[1], including a nationwide lockdown, closure of non-essential shops and public venues and mandatory social distancing. The general rule is that people should stay at home, but workers can travel to and from work if they cannot perform their work from home[2] ...
A system for supporting taxpayers struggling with the consequences of the coronavirus pandemic is being developed at the government level and will probably soon take effect. But taxpayers in difficulty may already draw on existing support instruments. One of them is reduction of income tax advances ...
The main points of the “Economic and social anti-crisis shield to protect businesses and employees in connection with the SARS-Cov-2 pandemic” was presented by the President, the Prime Minister, agroup of other ministers, and the president of the National Bank of Poland at apress conference on 18 March 2020 ...
On Friday, March 27, 2020, Michigan Governor Gretchen Whitmer issued Executive Order 2020-26 (the “Order”), postponing tax filing and payment deadlines for Michigan taxpayers in order to grant some amount of relief to individuals and businesses amid the Coronavirus/COVID-19 crisis ...
Czech Government Approves Mitigation Measures Related to Coronavirus Emergency UPDATED In connection with the coronavirus emergency, the Czech government has approved a liberation tax package aimed at mitigating the consequences of the emergency ...
Breaking Tax News - IRS Extends April 15 Payment and Filing Due Date For Gift Taxes Because of COVID-19 Emergency 03/29/2020 Authored by: Jennifer R. Lan,John M. Collins,Jamie L. Carter,J. Mitchell Miller The IRS issued Notice 2020-20 on March 27, 2020, thereby superseding certain provisions of Notice 2020-18 related to filing and paying gift taxes (see our prior coverage here) ...
Article 10 of the French government’s Ordinance no. 2020-306 of 25 March 2020 on the extension of the time limits during the health emergency period and the adaptation of procedures during said period provides for specific provisions aiming at adjusting certain time limits applicable to tax audits and, more specifically, at suspending their application as of 12 March 2020 until the expiry of a period of one month after the end of the state of health emergency (i.e ...
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act cleared the House vote and was signed into law. As the most expensive legislation ever passed, the CARES Act includes tax relief and incentives designed to help both businesses and individuals impacted by the COVID-19 pandemic. In addition, the CARES Act modifies certain provisions that were previously amended by the Tax Cuts and Jobs Act (TCJA) ...
The IRS issued a notice offering a special two-month deferral for federal income tax payments and federal income tax returns that are due April 15, 2020 (Notice 2020-18) (see our recent alert). This relief applies to all taxpayers, without requiring a written form (for example, no form 4868 or 7004 is required); the relief applies to individuals, trusts, estates, partnerships, LLCs, associations, and corporations ...
