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Latest Virus Relief Provisions Add To State Tax Uncertainty, Law360 Tax Authority

January 08, 2021

Morgan Lewis partner Cosimo Zavaglia was quoted in Law360 Tax Authority in an article about state tax provisions stemming from the latest COVID-19 relief act, which allowed Paycheck Protection Program payments to be deductible on federal income tax. Since uncertainty as to how these funds will be treated from a tax perspective still exists on both a state and federal level, Cosimo explained that many taxpayers will be looking for guidance from their states. “There's a call to a lot of states to clarify, especially rolling conformity states, if they [ultimately] expect taxpayers to take an alternative position," he said in the article.

Read the full Law360 Tax Authority article >>