Weil Tax BLOG - Feed https://tax.weil.com/category/covid19-updates/ Views and developments from the Tax Department at Weil Fri, 20 Mar 2026 15:41:38 +0000 hourly 1 UK Companies in Distress: A Tax Refresher https://tax.weil.com/uk-tax/uk-companies-in-distress-a-tax-refresher/ Mon, 13 Jul 2020 12:15:35 +0000 Stuart Pibworth Weil Tax Blog http://tax.weil.com/?p=1002 The COVID-19 pandemic and measures taken by national governments torestrict its spread have given rise to a whole host of issues. Although tax may not be at the forefront of the minds of creditors and debtors, the pandemic and national measures have thrown up a number of tax considerations. Although immediate liquidity and cash management

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]]> The COVID-19 pandemic and measures taken by national governments torestrict its spread have given rise to a whole host of issues. Although tax may not be at the forefront of the minds of creditors and debtors, the pandemic and national measures have thrown up a number of tax considerations. Although immediate liquidity and cash management

The post UK Companies in Distress: A Tax Refresher appeared first on Weil Tax BLOG.

]]> Mini-Budget 2020: Stamp Duty and VAT Announcements https://tax.weil.com/covid19-updates/mini-budget-2020-stamp-duty-and-vat-announcements/ Wed, 08 Jul 2020 15:43:00 +0000 Aron Joy Oliver Walker Ellie Marques Weil Tax Blog http://tax.weil.com/?p=994 The UK Chancellor announced a number of measures today (8 July 2020) to boost the economy in the wake of the coronavirus lockdown.  These included two tax cuts to VAT and stamp duty in an attempt to get the hospitality and housing sectors “bustling again”. VAT will be cut from 20% to 5% for the

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]]> The UK Chancellor announced a number of measures today (8 July 2020) to boost the economy in the wake of the coronavirus lockdown.  These included two tax cuts to VAT and stamp duty in an attempt to get the hospitality and housing sectors “bustling again”. VAT will be cut from 20% to 5% for the

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]]> Coronavirus: Tax on Measures to Tackle Cash Management https://tax.weil.com/insights/coronavirus-tax-on-measures-to-tackle-cash-management/ Mon, 08 Jun 2020 10:57:35 +0000 Stuart Pibworth Weil Tax Blog http://tax.weil.com/?p=974 Businesses are facing unprecedented levels of operational disruption with new challenges emerging daily. One of the key challenges is cash management and liquidity, but an important question is how we factor taxes into this. When considering the various measures introduced, some key tax considerations have emerged. Key points Basic principles of the coronavirus job retention

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]]> Businesses are facing unprecedented levels of operational disruption with new challenges emerging daily. One of the key challenges is cash management and liquidity, but an important question is how we factor taxes into this. When considering the various measures introduced, some key tax considerations have emerged. Key points Basic principles of the coronavirus job retention

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]]> Guidance on CARES Act Section 163(j) Elections for Real Estate Businesses https://tax.weil.com/features/guidance-on-cares-act-section-163j-elections-for-real-estate-businesses/ Wed, 15 Apr 2020 13:38:57 +0000 Weil Tax Blog http://tax.weil.com/?p=932 On April 10, 2020, the Internal Revenue Service released Revenue Procedure 2020-22 (Revenue Procedure) providing guidance on certain elections with respect to the business interest expense deduction limitation under Section 163(j) of the Internal Revenue Code of 1986 (Code).  As enacted by the Tax Cuts and Jobs Act (TCJA), Section 163(j) limited the deductibility of

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]]> On April 10, 2020, the Internal Revenue Service released Revenue Procedure 2020-22 (Revenue Procedure) providing guidance on certain elections with respect to the business interest expense deduction limitation under Section 163(j) of the Internal Revenue Code of 1986 (Code).  As enacted by the Tax Cuts and Jobs Act (TCJA), Section 163(j) limited the deductibility of

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]]> COVID-19 – Benefiting from Worthless Stock Losses https://tax.weil.com/covid19-updates/covid-19-benefiting-from-worthless-stock-losses/ Tue, 14 Apr 2020 01:44:00 +0000 Devon Bodoh Graham Magill Joseph Pari Blake Bitter http://tax.weil.com/?p=920 As the economic effects arising from the worldwide spread of the novel Coronavirus (COVID-19) continue to develop, it is clear that forced closures, travel and trade restrictions, steep declines in demand, and other pressures will cause many businesses throughout the world to struggle. In these uncertain times, taxpayers may obtain a significant benefit by evaluating

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]]> As the economic effects arising from the worldwide spread of the novel Coronavirus (COVID-19) continue to develop, it is clear that forced closures, travel and trade restrictions, steep declines in demand, and other pressures will cause many businesses throughout the world to struggle. In these uncertain times, taxpayers may obtain a significant benefit by evaluating

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]]> Guidance on Certain Net Operating Loss Elections Under the CARES Act https://tax.weil.com/covid19-updates/guidance-on-certain-net-operating-loss-elections-under-the-cares-act/ Mon, 13 Apr 2020 07:58:00 +0000 Devon Bodoh Graham Magill Joseph Pari Blake Bitter http://tax.weil.com/?p=928 On April 9, 2020, the Internal Revenue Service issued procedural guidance addressing the new 5-year net operating loss (NOL) carryback period enacted as part of the CARES Act. Specifically, Revenue Procedure 2020-24 provides detailed guidance on making an election to (i) waive the carryback period for an NOL arising in a taxable year beginning in

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]]> On April 9, 2020, the Internal Revenue Service issued procedural guidance addressing the new 5-year net operating loss (NOL) carryback period enacted as part of the CARES Act. Specifically, Revenue Procedure 2020-24 provides detailed guidance on making an election to (i) waive the carryback period for an NOL arising in a taxable year beginning in

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]]> The CARES Act – Considerations for Tax-Exempt Organizations https://tax.weil.com/covid19-updates/the-cares-act-considerations-for-tax-exempt-organizations/ Tue, 07 Apr 2020 19:08:15 +0000 Jon-Paul Bernard Devon Bodoh Miriam Buhl Sarah Downie Stuart J. Goldring Lyuba Goltser Mark Hoenig Michael Nissan Ellen Odoner John O'Loughlin Joseph Pari Gregory Silbert Paul J. Wessel Weil Tax Blog http://tax.weil.com/?p=903 In response to COVID-19, a number of significant legislative and administrative steps have been taken to, among other things, ameliorate the impact of the crisis on individuals, businesses, and tax-exempt organizations. At the federal level, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), a ~$2 trillion stimulus package, was enacted on March

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]]> In response to COVID-19, a number of significant legislative and administrative steps have been taken to, among other things, ameliorate the impact of the crisis on individuals, businesses, and tax-exempt organizations. At the federal level, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), a ~$2 trillion stimulus package, was enacted on March

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]]> Debt Buybacks— A Familiar Tool for New Circumstances https://tax.weil.com/covid19-updates/debt-buybacks-a-familiar-tool-for-new-circumstances/ Fri, 03 Apr 2020 15:09:00 +0000 Joseph Pari Noah Beck Devon Bodoh Robert Frastai Stuart J. Goldring Mark Hoenig Graham Magill http://tax.weil.com/?p=899 As a result of the recent COVID-19 health crisis and related market volatility, an increasing number of bank loans and high yield bonds are trading below par. These current market conditions present attractive de-levering opportunities for leveraged companies able to buy back their own debt, as well as sponsors seeking to purchase debt of their

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]]> As a result of the recent COVID-19 health crisis and related market volatility, an increasing number of bank loans and high yield bonds are trading below par. These current market conditions present attractive de-levering opportunities for leveraged companies able to buy back their own debt, as well as sponsors seeking to purchase debt of their

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]]> The CARES Act: A Guide to the Tax Provisions https://tax.weil.com/covid19-updates/the-cares-act-a-guide-to-the-tax-provisions/ Tue, 31 Mar 2020 21:41:24 +0000 Joseph Pari Devon Bodoh https://tax.weil.com/?p=895 The tax provisions of the CARES Act, enacted on March 27, 2020, will provide meaningful relief to taxpayers, both individuals and companies, dealing with the fallout of the COVID-19 crisis. Key provisions include: employee retention payroll tax credits for employers subject to closure due to COVID-19; substantial extension of the due date for the payment

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]]> The tax provisions of the CARES Act, enacted on March 27, 2020, will provide meaningful relief to taxpayers, both individuals and companies, dealing with the fallout of the COVID-19 crisis. Key provisions include: employee retention payroll tax credits for employers subject to closure due to COVID-19; substantial extension of the due date for the payment

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