Prior to the full and crippling outbreak of the Coronavirus in the United States, a number of companies entered into preliminary agreements to buy or sell assets, including real estate, intellectual property, stock, and subsidiaries or affiliates.
The Internal Revenue Service recently released guidance that may help to prevent some non-resident alien individuals from becoming subject to U.S. tax on their global income due to the COVID-19 pandemic.
On April 24, 2020, the President signed into law the Paycheck Protection Program and Healthcare Enhancement Act, amending the CARES Act to increase funds available to eligible businesses through the Paycheck Protection Program by approximately $310 billion.
As COVID-19 has proliferated throughout the United States, the resulting health-related government actions along with the behavioral adjustments in the consumer population at large (“social distancing,” etc.) continue to have a brutally unprecedented impact on our national economy.