Legal Alerts/Details

IRS Issues Guidance for Stranded Travelers Impacted by COVID-19

April 24, 2020
  1. The relief under Revenue Procedure 2020-20 is discussed in a related Legal Alert (IRS Provides Relief for Stranded Travelers Impacted by COVID-19).
  2. On June 12, 2020, the IRS issued an update to this guidance, which states that an Affected Person’s  income earned during the COVID-19 Emergency Period will not be subject to the 30% gross basis tax imposed under U.S. Tax Code Section 871(a) or Section 881(a) solely because the Affected Person is not treated as having a USTB or PE under the guidance.

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