Category Taxation Law

BrownWinick Attorneys Named to 2022 Best Lawyers® List

BrownWinick is pleased to announce that 21 lawyers have been included in the 2022 Edition of The Best Lawyers in America. Since it was first published in 1983, Best Lawyers® has become universally regarded as the definitive guide to legal excellence. BrownWinick would like to congratulate the following attorneys named to the 2022 The Best Lawyers... Read More

2021 Iowa Legislative Session Ends with Flurry of New Tax Rules

  On May 19, 2021, the Iowa Legislature closed this year’s session by passing a 60-page tax bill consisting of 28 divisions addressing a plethora of topics, resulting in an estimated cut in taxes of $1 billion over the next eight years. This article does not attempt to cover each of the upcoming tax changes; however, it does highlight the key... Read More

Iowa Tax Update for COVID-19

  Filing and Tax Payment Extensions to July 31, 2020 and Possibly January 31, 2021 The Iowa Department of Revenue has extended the tax return filing and payment deadline to July 31, 2020 for certain individual, composite (nonresident partners), partnership, corporate, S corporation, fiduciary (not including Iowa Form 706 Inheritance Tax returns),... Read More

COVID-19 – Additional Employer Funding Sources

  Many businesses are asking questions about new SBA loans available under the Paycheck Protection Program (PPP). Oftentimes businesses are not aware of other new resources available in the form of refundable advance tax credits — reimbursing the cost of employee wages paid in connection with COVID-19. In many cases, the credits available can... Read More

The CARES Act – How Could It Impact Your Tax Situation?

  Late Friday, March 27, President Trump signed the third stimulus package (the Coronavirus Aid, Relief, and Economic Security (or CARES) Act) with an estimated cost of $2 trillion to help offset the effects of the COVID-19 virus. The Act contains many tax-related provisions for both businesses and individuals. Of most importance are the... Read More

Employer Payroll Tax Credits for COVID-19

  Updated 4/1/2020 On March 18, 2020, President Trump signed the “Families First Coronavirus Response Act” into law. The law, which will go into effect on a date chosen by the Treasury Secretary (no later than April 2, 2020), creates two new federally-required employee benefits. BrownWinick has previously written about the new law in detail. The... Read More

Effects of COVID-19 on 1031 Exchange Deadlines

  Following President Trump’s emergency declaration on March 13, 2020, with respect to the COVID-19 outbreak, the U.S. Treasury Department (the “Treasury Department”) and Internal Revenue Service (“IRS”) issued guidance on special payment relief to individuals and businesses. However, as of the date of this post, no extensions or other relief... Read More

Guidance on Tax Payments Following COVID-19 Outbreak

  UPDATE: 4/10/2020 Yesterday, the IRS announced it is expanding the scope of what returns and taxes are now due July 15, 2020 (similar to previous announcements below). The new deadline more broadly applies to taxpayers with a filing or payment deadline on or after April 15 and before July 15, whether that is an original or extended due date.... Read More

Tax Update - Qualified Opportunity Zone Final Regulations and Highlights of Tax Provisions in Spending Bill

Final Regulations for Qualified Opportunity Zones At long last, after two sets of proposed regulations, the IRS finalized its regulations with respect to investing in a “qualified opportunity zone” (“QOZ”). See previous articles on the tax benefits of such an investment and how to qualify for them here: Invest in Opportunity Zones and Updated... Read More