No matter whether Trump or Biden wins in November, a new survey from PwC indicates taxes may be rising.
A month after President Donald Trump moved to shore up workers’ incomes by giving employers the option of deferring payroll taxes, the effort has failed to energize a U.S. economy still reeling from the coronavirus pandemic.
PricewaterhouseCoopers has been building its managed tax services business since 2017, but now it sees an opportunity to help companies who are dealing with COVID-19.
Granting and forgiving loans in different years can create problems.
The Internal Revenue Service moved to ease the tax burdens of private equity portfolio companies and heavily indebted industries.
The IRS initiated 71 percent fewer corporate audits this spring compared with the same time period a year ago as the coronavirus pandemic halted many agency operations.
Top Democrats in the House and Senate are backing a measure that would deny coronavirus aid to companies that moved their official headquarters offshore to avoid U.S. taxes.
Big Four firm Ernst & Young and its business tax clients at companies across the U.S. and other countries have faced a series of challenges amid the pandemic.
Some multinational companies can generate additional carryback tax loss relief through transfer pricing planning.
The CARES Act included several provisions allowing companies to claim net operating losses for past tax years, temporarily reversing some of the limitations in the Tax Cuts and Jobs Act.