On April 8, 2020, the Internal Revenue Service (IRS) issued Rev. Proc. 2020-23 in response to the Coronavirus Aid, Relief and Economic Security (CARES) Act. Rev. Proc. 2020-23 eases restrictions on partnerships’ ability to file amended tax returns and issue amended Schedules K-1 in order for their partners to avail themselves of the retroactive tax relief provided by the CARES Act.
CARES Act Update: IRS Provides Guidance to Partnerships to Take Advantage of Liquidity Benefits
David SherwoodDavid D. Sherwood focuses his practice on a broad range of domestic tax issues affecting corporations, joint ventures and their owners, including the tax treatment of spin-offs and other restructurings, consolidated returns, the availability of deductions on the worthlessness or other disposition of stock, and the formation of investment partnerships, real estate partnerships, corporate joint ventures and multinational group internal partnerships. Read David Sherwood's full bio.
Kevin J. FeeleyKevin J. Feeley focuses his practice on the taxation of complex transactions, with particular emphasis on structuring and implementing partnership and limited liability company transactions, including joint ventures and private equity investments. In addition, Kevin has extensive experience in structuring mergers and acquisitions, tax-free reorganizations, recapitalizations and restructurings of financially troubled companies. He also has advised closely held companies, family offices, S corporations and cooperative organizations on tax planning issues and strategies. Read Kevin Feeley's full bio.
Kevin SpencerKevin Spencer focuses his practice on tax controversy issues. Kevin represents clients in complicated tax disputes in court and before the Internal Revenue Service (IRS) at the IRS Appeals and Examination divisions. In addition to his tax controversy practice, Kevin has broad experience advising clients on various tax issues, including tax accounting, employment and reasonable compensation, civil and criminal tax penalties, IRS procedures, reportable transactions and tax shelters, renewable energy, state and local tax, and private client matters. After earning his Master of Tax degree, Kevin had the privilege to clerk for the Honorable Robert P. Ruwe on the US Tax Court. Read Kevin Spencer's full bio.
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