Tax & Regulatory Briefing: May 2020

May 29, 2020

COVID-19 continues to alter the tax and regulatory landscape this month (and for the foreseeable future). The Paycheck Protection Program (PPP) and other recently introduced measures continue to dominate the headlines, even as guidance is offered in other programs and sectors.

Meanwhile, evolutions in the global landscape, including foreign investment controls on cross-border transactions, mean that understanding the regulatory trends will support both diligence and differentiation in the months ahead.

In other words, knowledge is power.

Welcome to the May edition of the AFIRE Tax & Regulatory Briefing.

Links: 8 | Words: 306 | Read Time: 2 minutes

Treasury Issues Loan Forgiveness Guidance Regarding Paycheck Protection Program

Ropes & Gray summarizes new interim final rules from the SBA and the US Treasury Department related to the Paycheck Protection Program and previously unclear aspects of the CARES Act. Read more.

Proposed CFIUS Regulations May Shortcut Filing Requirements for Investors From Allied Countries

From Stroock: New proposed rules from CFIUS would replace NAICS code-based industry test with “US authorization test” based on export controls, which could relieve filing requirements for US allies. Read more.

COVID-19 Property Tax Relief Opportunities

In this Eversheds Sutherland podcast, experts looks at special property tax relief provisions from various states and how they may apply to the disaster declarations concerning COVID-19. Listen here.

Differentiated Diligence after COVID-19

This new paper from KPMG highlights six techniques to improve diligence for dealmaking amidst the noise of data caused by COVID-19. Read more.

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The Impact of Foreign Investment Control on Cross-Border Transactions

While a shifting focus toward rebuilding domestic capacity in several critical sectors continues to grow, Mayer Brown discusses how cross-border investors can continue to succeed and through better understanding the regulatory landscape. Read more.

Updates on the Main Street Lending Program

Since it was first introduced, the complexities of the Main Street Lending Program have received a few important updates. Goulston & Storrs has the latest. Read more.

Tax Implications of Debt Restructuring and Workouts During Difficult Times

Recent analysis from Katten and National Law Review on tax consequences of modifying debt instruments, repayments, or acquisitions, as well as related planning techniques that may be useful during difficult times. Read more.

Payment Protection Program Enhancements Would Expand Loan Forgiveness Rules

Key provisions of the PPP would extend the duration of the “covered period,” eliminate some restrictions on loan proceeds, allow for longer terms, and more. Deloitte Tax has the rest. Read more.

Want to include your updates for the next briefing? Let us know.