Skip to main content

Federal coronavirus resources: Legislation, loans, and tax relief

Subscribe
Learn how you can manage your business risks and prepare for future disruptions.
Subscribe
Patrick J. Duffany

CPA, JD, Managing Partner - Tax

Contact Patrick View full biography
Brian Newman

CPA, Partner, Practice Leader, Federal Tax Services

Contact Brian View full biography

As the U.S. bands together to work through the issues created by COVID-19, it has become challenging to process all of the available information. To make it easier for companies to find the information most relevant to their specific businesses, we have aggregated our federal tax alerts, SBA program insights, and other articles pertaining to federal responses to the coronavirus pandemic below. 

This page will be updated regularly. Please check back, and be sure to sign up for our tax alerts, follow our Tax practice on Twitter and LinkedIn, and view our resources on the state and local tax side as well.

Business tax planning

Insight

Treasury releases temporary regulations regarding waiving NOL carrybacks for certain consolidated groups

Read how consolidated groups can handle consolidated net operating losses (CNOLs) under the CARES Act with two additional split-waiver elections.

7/15/2020 | Chris Wray, Cheryl Joseph

Insight

IRS announces extensions and other tax relief for qualified opportunity funds (QOF) and investors affected by COVID-19

IRS Notice 2020-39 extends or suspends certain time-sensitive requirements to help qualified opportunity fund (QOF) taxpayers during the coronavirus crisis.

6/5/2020 | Patrick Duffany, Brian Newman, Ira Weinstein

Insight

165(i) allows early disaster loss claims, creating COVID-19 cash opportunities

Taxpayers have the option of claiming certain coronavirus-related disaster losses early, paving the way for quick tax savings or refunds. Here’s what to know.

4/29/2020

Insight

Charitable giving in the age of COVID-19: Frequently asked questions

Organizations have options for giving money to employees affected by the coronavirus pandemic. Here’s what to know about tax considerations and more.

3/31/2020 | Lori Rothe Yokobosky, Thomas Lanning

Insight

COVID-19 telework complicates multistate tax considerations

As coronavirus-related remote work continues, absent special relief, businesses will need to reconsider nexus, apportionment, withholding, sales tax, and more.

6/8/2020 | Corey Rosenthal
Hear how the CARES Act changed the rules on qualified improvement property (QIP), net operating losses (NOLs), and more – and what businesses should do next.

The Employee Retention Credit and Tax Credit for Paid Emergency Sick and Family Leave

Insight

Employee Retention Credit (ERC) now available for all of 2021, and PPP loan recipients can claim ERCs

Read how ERC requirements have changed for 2021, including what counts as qualified wages, who is an eligible employer, the maximum credit amount, and more.

5/3/2021 | Dana Fried

Insight

IRS issues fact sheet on tax credit available to employers that voluntarily provide FFCRA COVID-19-related paid leave during 2021 Q2, Q3

Certain employers can claim a credit if they voluntarily provide paid sick or family leave for defined COVID-19-related reasons, including vaccination. Read more.

4/26/2021 | Dana Fried

Insight

Additional guidance released on emergency sick and family leave related to COVID-19

Learn about the DOL’s temporary regulations on emergency family and paid sick leave requirements under the Families First Coronavirus Response Act.

4/6/2020

Insight

A deeper dive into the employment-related provisions of the CARES Act

Here’s what to know about coronavirus-related changes to employer payroll taxes, unemployment benefits, retirement plans, and more.

3/30/2020 | Dana Fried

Personal tax planning

Insight

Individual income tax filing, payment, and estate and gift planning amid COVID-19

Following tax changes related to the coronavirus, read our insights on your 2019 Form 1040, income tax planning opportunities, and estate and gift planning.

4/10/2020

Insight

IRS Notice 2020-50: COVID-19 related distribution eligibility

Read new qualifying circumstances for distributions from select retirement plans or IRAs, for individuals, spouses, and household members impacted by COVID-19.

6/24/2020 | Dana Fried

Insight

Estate planning considerations amid COVID-19’s economic impact

The coronavirus pandemic has caused a diminution of asset values, leading to reconsideration of estate planning. Read insights on grantor trusts, GRATs, and more.

5/19/2020 | Lawrence Lipoff

Insight

Recent IRS developments affecting individuals: COVID-19 stimulus payments, refund delays, and electronic Form 1040-X

Read about recent IRS developments related to the coronavirus pandemic stimulus checks, 2019 refunds, and electronic filing of amended tax returns.

6/5/2020 | Neil Becourtney

Exempt organizations

Insight

EXEMPT ORGANIZATIONS: IRS clarifies net operating loss (NOL) carrybacks under the CARES Act and Section 512(a)(6)

Read how CARES Act changes to net operating loss (NOL) carrybacks interact with unrelated business taxable income (UBTI) calculations under IRC Section 512(a)(6).

6/17/2020 | Lori Rothe Yokobosky, Dan Masciello

Insight

What exempt organizations need to know about federal responses to COVID-19

Here’s what exempt organizations need to know about the Coronavirus Aid, Relief, and Economic Security (CARES) and Families First Coronavirus Response acts.

4/2/2020 | Lori Rothe Yokobosky, John Alfonso

Insight

Paycheck Protection Program considerations for NFPs

To assist not-for-profit recipients of COVID-19-relief PPP loans, we have provided answers to some of the most commonly asked questions. Read more.

6/18/2020 | Jon Brownell, Anthony Cammarano

Tax webinars and events

On-demand

On-Demand Webinar: Considerations on debt restructuring & work outs of non-publicly traded debt instruments

As the Coronavirus Pandemic impacts the global economy, a key concern for businesses, beyond those of the health and welfare of their clients and team, is the need to understand the effect of economic conditions on debt instruments

On-demand

On-Demand Webinar: COVID-19 tax and financial implications – What every PE fund manager should know

Please join members of CohnReznick’s private equity tax practice for a discussion on the various forms of financial and tax relief offered by the federal government in response to this pandemic.

Robert Richardt, John Lanza, Jon Collett, Brigid Morrissey

On-demand

The COVID-19 pandemic and complications around the teleworking model

With millions of employers now switching to a telework model based on the shift caused by the coronavirus pandemic and the ‘Great Lockdown,’ many businesses and individuals have raised concerns as to the multistate issues they now face.

6/26/2020

On-demand

On-Demand Webinar: The CARES Act – A practical perspective and what you need to know now

CohnReznick's National Tax team, along with other key Partners within the firm, present a webinar to address recent federal and state legislative and policy changes that impact nearly every taxpayer and business in the country.

On-demand

International tax considerations for distressed businesses

Join us for a timely and informative webinar where members of CohnReznick’s International Tax Team will discuss various modifications to terms of indebtedness of controlled foreign corporations and the impact to US shareholders of such modifications

5/8/2020

Paycheck Protection Program (PPP)

Insight

Inflation Reduction Act: Opportunities for manufacturers

With the Inflation Reduction Act, the opportunities for manufacturing businesses are many. Learn more about how the IRA will impact manufacturers. Read the article

5/4/2023 | Lee Peterson

Insight

Navigating the new retail staffing landscape

With continual low unemployment rates driving increased competition for workers, retailers need to focus on data-driven business decisions and creative incentive programs to retain valuable talent and control turnover costs. Learn more.

5/4/2023 | Jeff Wissink

Insight

Q&A: Strengthening supply chains to create and protect value

Read our Q&A-style exploration of how to set up a strong supply chain, optimize the one you have, and monitor it for ongoing and increasing success.

5/3/2023

Insight

Monitoring programs: A first defense against infrastructure grant fraud

State and local agencies must develop thorough assessments, processes, and policies to protect their IIJA, ARPA, and IRA funding. Read more.

5/10/2023 | Roman Castillo

Insight

GovCons: Proactively assess your compliance program

GovCons face extensive requirements for protecting against fraud and misconduct. Get a list of key rules and regulations, plus top steps to meeting them.

5/11/2023 | Maurice L. Crescenzi Jr., Rich Meene

Insight

Fraud prevention techniques for infrastructure programs

An increase in infrastructure spending introduces a higher likelihood of fraud. In this article, CohnReznick’s infrastructure professionals provide advice on how to mitigate fraud in infrastructure projects. Learn more.

5/24/2023

Insight

Florida court: No homestead tax exemption on exclusively rented residence

Can a homeowner receive the homestead exemption on a portion of their residence that is rented exclusively to a tenant? Read more.

5/1/2023 | Faith L. Gorman, Melissa Mager

Insight

Affordable Housing News & Views - May 2023

From legislative issues to technical updates to performance and industry trends, CohnReznick's Affordable Housing News & Views has the housing tax credit industry covered.

5/10/2023 | Beth Mullen

Other federal lending and funding programs

On-demand

On-Demand Webinar: An overview of SBA, CARES, and alternative financing strategies

As businesses manage through the uncertainty of COVID-19, there are options for leaders to seek financial relief, enhance liquidity, and preserve company value. However, navigating the array of options and understanding which relief packages apply to your company can be challenging.

Bob Moss, Stephanie O'Rourk, Martin Teckler

On-demand

On-Demand Webinar: Making COVID-19 public assistance programs work for you

Join CohnReznick’s emergency management professionals for a timely webinar discussion that will provide stakeholders with practical insights and best practices to manage and leverage all federal funding for the COVID-19 response.

Frank Banda, Amanda Campen

Insight

Understanding SBA's Economic Injury Disaster Loans program

Businesses that have suffered losses related to the COVID-19 pandemic can apply for Small Business Administration (SBA) loans of up to $2 million. Here’s what to know.

9/27/2021

Coronavirus Resources

Content Hub

SALT coronavirus resources

In these uncertain times, and as information is changing by the minute, we recognize that it can be daunting to keep up with the news that specifically pertains to your organization. To make it a little easier, we’ve gathered below all of the state and local tax alerts that we have released to date regarding changes related to the COVID-19 coronavirus pandemic.

Topic

Coronavirus Resource Center

In addition to devastating health implications, the spread of the Coronavirus (COVID-19) and related market uncertainties are having major impact on financial and operational performance. Explore the content in this resource center and contact one of our professionals to learn how you can manage your business risks and prepare for future disruptions.

Related services

Federal Tax

Tax

Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice specific to, among other things, your individual facts, circumstances and jurisdiction. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.