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

8 января 2021 г.

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 >>