Trump Seeks Advice on Reopening Economy

President Trump spent much of yesterday on conference calls with corporate executives, industry groups and other influencers to try to build momentum for reopening much of the economy by early next month. The White House had earlier announced the formation of an advisory council called the “Great American Economic Revival Industry Group” that includes a… Read more »

Treasury Extends Excise Tax Payment Deadline

The IRS announced April 9 that, due to the COVID-19 pandemic, tax returns and payments for tax-exempt organizations and fiscal year businesses due between April and June are now delayed until July 15, 2020. The extension announced by Treasury Secretary Steven Mnuchin includes excise taxes that associations and other tax-exempt organizations pay on certain executive… Read more »

ASAE Continues Push for Association COVID Relief

With Congress and the administration still at an impasse on the next phase of COVID-19 relief, ASAE and its grassroots advocates blanketed Capitol Hill again this week with calls for emergency assistance for Section 501(c)(6) associations that were left out of most provisions of the CARES Act. ASAE’s sign-on letter, updated this week and re-sent… Read more »

COVID-19 Pandemic Impacting Digital Tax Talks

The global economic downturn caused by the coronavirus pandemic is impacting ongoing discussions on how the digital economy will be taxed. While international negotiators continue to seek agreement on a plan created by the Organization for Economic Cooperation and Development (OECD), some participants remain skeptical that consensus can be reached from more than 130 countries… Read more »

CARES 2 Package Taking Shape in the House

With talks breaking down in the Senate earlier today on an interim COVID-19 relief measure, attention is shifting to the House where another large-scale economic stimulus package is taking shape. This bill, which follows the $2.2 trillion CARES Act signed into law two weeks ago, will likely inject another $1 trillion or more into the… Read more »