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May 26, 2020

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.

May 26What to expect in Washington | Coronavirus response (May 26)
May 18House passes fifth pandemic response bill, $3 trillion HEROES Act, 208-199
May 15Puerto Rico's Treasury Department further extends sales tax exemption for necessities and prepared food as a result of COVID-19
May 14IRS permits employers to amend IRC Section 125 cafeteria plans to allow employees to make benefits and coverage changes in response to impact of COVID-19
May 11IRS changes employee retention credit FAQs to allow health plan expenses for furloughed employees to be treated as qualified wages
May 6IRS FAQs reveal Treasury and IRS thinking on employee retention credit
May 1IRS updates guidance on faxing Forms 1139 and 1045 to claim NOL carrybacks and AMT credits
April 30EY publication explains federal and state payroll and employment tax implications of COVID-19
April 28IRS issues FAQs on interaction of NOL carrybacks and IRC Section 965 inclusions
April 23House passes $484 billion interim coronavirus relief package
April 21IRS and Treasury release favorable, broad procedural guidance for implementing CARES Act provisions on qualified improvement property and certain elections
April 14IRS gives relief to taxpayers making IRC Section 163(j) elections
 IRS issues guidance on carrying back NOLs for five years under CARES Act
April 13IRS grants widespread tax deadline relief, extending time for most payments, filings and actions until July 15
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

May 21Canada Revenue Agency publishes guidance on international income tax issues resulting from COVID-19 travel restrictions
May 19Eligibility for the Canada Emergency Wage Subsidy extended
May 15Indonesia issues measures to mitigate impact of COVID-19
May 14New Zealand announces new measures to assist businesses in response to COVID-19
 Peru enacts special depreciation rules due to COVID-19
May 11OECD hosts webcast to provide update on its tax work during COVID-19 crisis
May 5Mexico proposes amending miscellaneous tax regulations to suspend certain due dates in response to COVID-19
 Japan enacts tax measures in response to COVID-19
 Spain enacts VAT rate reductions to mitigate impact of COVID-19
April 24Colombia issues additional COVID-19 tax measures
April 10OECD Secretariat issues Analysis of Tax Treaties and the Impact of COVID-19



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