The IRS recently extended two deadlines related to the Foreign Account Tax Compliance Act (FATCA) because of the novel coronavirus (COVID-19) crisis. This article provides background on and explanation of the extensions, which pertain to 2019 FATCA-related data and FATCA certifications.
The Coronavirus Aid, Relief and Economic Security Act changed many of the rules for net operating losses (NOLs). The IRS recently provided answers to a variety of FAQs about NOL carrybacks for taxpayers with outstanding Section 965 net tax liabilities. This article provides a rundown of 10 pertinent FAQs.
The Coronavirus Aid, Relief and Economic Security Act changed many of the rules for net operating losses (NOLs). The IRS recently provided answers to a variety of FAQs about NOL carrybacks for taxpayers with outstanding Section 965 net tax liabilities. This article provides a rundown of 10 pertinent FAQs.