Identifying obscure but potentially costly tax issues is a skill. Solving them in the context of our client’s goals is an art, and one that Paul, Weiss practices at the highest level. Working closely with the Corporate and Bankruptcy Departments, our tax lawyers help clients solve problems, avoid pitfalls and uncover hidden value in all types of transactions.
CARES Act: Federal Income Tax Relief for Individuals and Businesses in Response to the Coronavirus Pandemic
The CARES Act makes a number of significant changes to the federal income taxation of both individual taxpayers and businesses that are generally intended to provide near-term liquidity and economic relief.
Internal Revenue Service Postpones April 15 Federal Income Tax Payment and Tax Return Filing Deadlines
On March 20, the Internal Revenue Service issued Notice 2020 18 postponing the April 15 federal income tax payment and tax return deadline to July 15, 2020. The Notice supersedes the relief previously issued in Notice 2020-17 described in our prior alert, which had provided more limited relief.
On March 18, the IRS announced that individual taxpayers would be allowed to defer up to $1 million and corporations would be allowed to defer $10 million of federal income tax payments (including federal estimated income tax payments) due on April 15 for up to 90 days without penalties or interest.
Tax partner Jeffrey Samuels will speak on a panel at the Tax Executives Institute’s 2019 Mergers and Acquisitions seminar.
Paul, Weiss is representing global entertainment company Boat Rocker Media in its significant financial investment in talent management and production company Untitled Entertainment.
Paul, Weiss is representing Advance Publications in its acquisition of Palladian Holdings, Inc., owner of Turnitin, a leading provider of plagiarism detection technology and other related products to schools, universities and publishers worldwide.
In this video, tax partner Jeffrey Samuels, co-chair of the tax department, discusses the additional inversion guidance issued by the Treasury Department and the Internal Revenue Service, which intends to target the tax benefits of corporate inversions, including pending transactions.
Paul, Weiss advised Preferred Sands, a leading producer of sand and resin coated proppants, in connection with a comprehensive restructuring transaction that included the restructuring of the Company’s indebtedness of more than $1.5 billion.
Paul, Weiss advised an ad hoc group of prepetition second lien lenders in connection with the chapter 11 cases of FULLBEAUTY Brands Holdings Corp. and certain affiliates.