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Features News Articles and Reports keeping you up-to-date with local and international tax-related matters.

Internal Revenue Service Economic Relief for US Persons

US persons, including US citizens and resident aliens, now qualify for economic relief under the Families First Coronavirus Response Act of 2020 which was signed into law on March 18, 2020 . Every American adult with adjusted gross income (AGI) on their 2018 or 2019...

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Future of Tax in NZ – Comprehensive Report Released

‘Tax avoidance reduces the integrity of the tax system and erodes social capital. It is also fundamentally unfair, because it means that compliant taxpayers must pay more to make up for the lost revenue’.

The Tax Working Group released its Future of Tax Final Report on 21 February 2019,

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Reactivation of IRS functions to begin

Reactivation of IRS functions should, in the absence of any information to the contrary, begin to occur next week. This advice came amid Friday’s news that the US government shutdown was over, at least for three weeks. In order for this to occur, according to the Lapsed Appropriations Contingency Plan (Tax Year 2018 Filing Season), funds will need to be appropriated for the IRS to continue its mission.

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Lapsed Appropriations Contingency Plan – IRS status update

The 2018 filing season Lapsed Appropriations Contingency Plan (‘plan’) was released by the IRS a few days ago. The plan covers five business days following a lapse in appropriations should it occur during the Tax Year 2018 filing season (January 1 – April 30, 2019). Under the latest plan, more than 50% of the IRS workforce is required to return to work to perform activities classed in the plan as essential.

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