This article summarizes business and individual tax provisions of the CARES Act, emergency legislation designed to speed relief to employers and individuals who are struggling due to the COVID-
19 pandemic.
LEGISLATION
July 2020 - The Tax Adviser
PERSONAL FINANCIAL PLANNING
Recovery rebates: Tax planning pitfalls and opportunities
The CARES Act enacted a recovery rebate tax credit to help individual taxpayers through the economic disruption caused by the coronavirus pandemic. This article discusses strategies to lower a taxpayer’s 2020 AGI to avoid a phaseout of the credit and other strategies for maximizing the credit a taxpayer receives.
TAX CLINIC
corporations & shareholders
FOREIGN INCOME & TAXPAYERS
partners & partnerships
procedure & administration
COLUMNS
NEWS NOTES
TAX PRACTICE & PROCEDURES
50TH ANNIVERSARY
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.
