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December 15, 2021

COVID-19 | Key alerts and other resources from EY Tax

Please Note: This page contains key EY Tax Alerts related to COVID-19. To find all EY Tax Alerts related to COVID-19, go to TNU and check off the box under Key Topics for "COVID-19."

EY's Global COVID-19 Stimulus Tracker

Policy changes across the globe are being proposed and implemented on a daily basis. EY's Global COVID-19 Stimulus Tracker provides a snapshot of the policy changes that have been announced in countries around the world in response to the ongoing crisis.

Upcoming COVID-19 Webcasts

Find an up-to-date list of EY's COVID-19 related webcasts here.

Key EY Tax Alerts — U.S.

December 17What to expect in Washington (December 17)
December 15Build Back Better Act reconciliation bill would enhance existing workforce-related credits and create new ones
November 23Build Back Better Act reconciliation bill passes House with most housing and energy tax credits intact
November 22Tax provisions in House-passed reconciliation bill could have state income tax implications
November 1Latest Build Back Better proposal includes 15% corporate minimum tax on book income
October 28President Biden releases new framework on $1.75 trillion package
October 27Sens. Wyden, Warren, King unveil minimum tax on corporate profits
October 18Proposed federal bills would reinstate, expand and increase superfund excise taxes as soon as January 1, 2022
September 17Tax plan in House Ways & Means reconciliation bill includes several proposals that would affect financial transactions and digital assets
September 17Build Back Better tax proposals would affect higher-income individuals, as well as trusts and estates
September 16Ways & Means Committee releases reconciliation bill with tax provisions that would significantly change partnership rules
September 15Ways & Means approves reconciliation tax package
September 15Budget reconciliation bill contains many new and amended housing and energy tax credits
September 15Wyden's discussion draft would significantly alter partnership rules
September 13FIRST IMPRESSIONS | Tax provisions in House Ways and Means reconciliation bill could have state income tax implications
September 13FIRST IMPRESSIONS | Ways and Means unveils Build Back Better Act tax increase proposals
September 13FIRST IMPRESSIONS | Tax plan in House Ways & Means reconciliation bill offers new details on international tax proposals
April 29President Biden addresses joint session of Congress
March 22American Rescue Plan Act affects ACA reporting by expanding COBRA coverage and premium tax credits
March 11President signs $1.9 trillion COVID-19 relief bill
March 8Senate passes COVID relief bill after overnight session
March 4Senate COVID bill includes changes from House version
March 1House approves COVID relief reconciliation bill
February 12Ways & Means approves COVID Reconciliation Bill
February 11Ways & Means wraps first day of COVID Bill markup
February 9Ways & Means COVID Bills are roughly half of Biden relief plan (February 9)
January 29Biden releases national strategy for COVID-19 response
January 15Biden announces $1.9 trillion 'American Rescue Plan'
January 13New COVID-19 test requirement prior to international air travel to the United States discussed
January 5Consolidated Appropriations Act, 2021 modifies and extends key employment-related tax credits and creates new tax credit for employers in 2020 qualified disaster zones
December 23Consolidated Appropriations Act, 2021 extends many credits and other COVID-19 relief
December 21Year-end 2020 COVID and omnibus legislation
December 21EY's state guide to COVID-19 payroll and employment tax provisions is updated through December 15, 2020
December 17IRS extends time for signing forms by electronic or digital signature
November 2IRS releases instructions for Forms W-2 and W-2c reporting of employee deferral and repayment of Social Security taxes under IRS Notice 2020-65
October 26Executive summary on the employee Social Security tax deferral updated to include IRS guidance through October 1, 2020
October 20Pandemic causes record federal deficit for FY 2020 of $3.1 trillion
October 5IRS releases Form 941 instructions for employee deferral of Social Security tax allowed as part of a COVID-19 relief measure
September 23CBO's long-term budget outlook indicates pandemic has worsened federal government's long-term fiscal imbalance
September 1IRS issues guidance on employee deferral of Social Security tax
 New guidance on deferring employees' FICA share raises issues for employers
August 13Employee Social Security tax deferral is voluntary, according to Treasury Secretary Mnuchin
August 10President Trump's executive order allows for deferral of employee Social Security tax as part of COVID-19 emergency relief
July 10COVID-19 and US CARES Act implications on interim filings under IFRS
May 18House passes fifth pandemic response bill, $3 trillion HEROES Act, 208-199
April 21IRS and Treasury release favorable, broad procedural guidance for implementing CARES Act provisions on qualified improvement property and certain elections
April 14IRS issues guidance on carrying back NOLs for five years under CARES Act
April 10Taxpayers need to consider international tax implications of making certain net operating loss elections under Revenue Procedure 2020-24
April 3Examining key tax provisions in CARES Act
April 2Examining the macroeconomic impact of the CARES Act
 CARES Act adopts technical amendments for qualified improvement property and provides broad relief for many taxpayers, including provisions related to IRC Section 163(j), NOL deductions and AMT acceleration
 CARES Act may have income tax accounting implications
March 19Second coronavirus law mandates paid leave, provides employer tax credit and gives states grants for unemployment benefits
March 18Families First Coronavirus Response Act gives tax relief to employers and employees impacted by COVID-19

Key EY Tax Alerts — Global

April 5Canada Revenue Agency issues supplemental guidance on international income tax issues resulting from COVID-19
November 11Canada releases draft legislation for the Canada Emergency Rent Subsidy
October 22Japan | Post COVID-19 tax audit trends
October 6Singapore provides transfer pricing guidance related to impact of COVID-19
September 24UK Government announces new COVID-19 support measures
September 9Chile enacts new COVID-19 tax incentives package
August 6OECD report forecasts falling tax revenues in Asian and Pacific Economies as a result of COVID-19 pandemic
July 31Ireland announces temporary reduction in VAT rate as part of July 2020 Stimulus Plan
 Canada's Department of Finance announces extension to incur flow-through qualifying expenditures
July 23Canada redesigns and extends the Canada Emergency Wage Subsidy (CEWS 2.0)
July 22European Council adopts conclusions on recovery plan and EU budget for 2021-2027, including agreement on introduction of new taxes
June 25EU reaches agreement on postponement of VAT e-commerce rules due to COVID-19 crisis
April 10OECD Secretariat issues Analysis of Tax Treaties and the Impact of COVID-19