CROSS BORDER LEGAL AND TAX ISSUES UNDER THE CARES ACT

On March 27, 2020, the Congress approved, and President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), a US$2 trillion stimulus package in response to the economic crisis stemming from the coronavirus pandemic. Earlier in the month, the Families First Coronavirus Response Act was enacted which provided for payroll tax credits for eligible employers.

Our webcast will cover various legal and tax issues under the CARES Act including more specifically:

  • Eligibility including entity structure, foreign ownership and affiliation rules issues
  • Terms and conditions of the assistance including collateral and personal guarantees
  • Permitted use of proceeds and potential loan forgiveness requirements
  • Wide array of beneficial corporate and business tax provisions introduced by CARES Act for such as carry back of losses, removing 80% limitation on utilization of losses, early refund of AMT and increasing the section 163(j) limitation,
  • Beneficial measures with respect to payroll taxes such as deferral of payment of a portion of the payroll tax liability, employee retention credits and certain payroll tax credits,
  • Various relaxations provided by Internal Revenue Service and state departments on tax return and tax payment due dates.

Our technical guidance and practical tips on the legal issues and various tax incentives offered by the US Government will provide audience members with critical information during this difficult phase.

SPEAKERS

  • Mr. Shantanu Surpure – Partner, Inventus Law (Silicon Valley)
  • Mr. Shishir Lagu – Partner, US Tax, KNAV