Tax News & Views

Businesses are looking to either save or generate cash as a response to COVID-19. Taxpayers are looking to NOL carrybacks, filing for quick refunds, 2019 and 2020 accounting methods planning, and federal and international tax planning considerations as potential cash generation options. On our latest tax podcast, Joe Carino of Deloitte Tax explains to listeners what some of the different strategies could mean for tax departments in their recovery planning.

Businesses are looking to either save or generate cash as a response to COVID-19. Taxpayers are looking to NOL carrybacks, filing for quick refunds, 2019 and 2020 accounting methods planning, and federal and international tax planning considerations as potential cash generation options. On our latest tax podcast, Joe Carino of Deloitte Tax explains to listeners what some of the different strategies could mean for tax departments in their recovery planning.

On the indirect tax side, it’s contract personnel opportunities, indirect tax refund reviews, and outsourcing compliance. For property tax, it’s deferred payments, a focus on the current filing and an assessment cycle, and a strategy for future appeals. There are numerous state-level opportunities for businesses looking to save or generate cash in response to COVID-19. On our latest tax podcast, Deloitte Tax leaders Kirsten Gulotta and Dave Hurrell discuss cash generation in the age of COVID-19.

On the indirect tax side, it’s contract personnel opportunities, indirect tax refund reviews, and outsourcing compliance. For property tax, it’s deferred payments, a focus on the current filing and an assessment cycle, and a strategy for future appeals. There are numerous state-level opportunities for businesses looking to save or generate cash in response to COVID-19. On our latest tax podcast, Deloitte Tax leaders Kirsten Gulotta and Dave Hurrell discuss cash generation in the age of COVID-19.

On this episode of our tax podcast, we take a look at areas in the CARES Act important to taxpayers, from the temporary provision allowing companies to delay the deposit of payroll taxes to the government to the Paycheck Protection Program. Deloitte Tax policy group leader Jonathan Traub talks about what employers need to know about them. We also discuss the importance of focusing on guidance for implementation, and what additional legislation might be on the way.

What are the key elements of the CARES Act? What does it do for businesses trying to stay solvent and keep workers employed? How will these costs impact the deficit? Jonathan Traub answers these and other questions about the CARES Act on our latest tax podcast. He also zooms out and explains where it fits into the Congressional multi-step recovery planning.