After more than four years of international negotiations taking place, 132 countries recently agreed to a new plan to reform international tax laws.
Learn about the $1.9 trillion relief package that includes payments to individuals and funding for federal programs, vaccines and testing, and schools.
On June 8, 2020, the National Bureau of Economic Research (NBER), which has official responsibility for determining U.S. business cycles, announced that February 2020 marked the end of an expansion that began in 2009 and the beginning of a recession. The NBER defines a recession as “a decline in economic activity that lasts more than a few months”.
This emergency relief package is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying economic crisis. Major relief provisions are summarized here.