The disruptions caused by the COVID-19 pandemic have driven significant losses for many businesses, causing some to permanently close. Owners of these and other distressed businesses should consider whether they are eligible for a deduction attributable to an investment in worthless stock. Generally, if the stock is a capital asset and becomes wholly worthless during […]
Read moreThe global nature of today’s economy elevates the tax function as an area of risk for organizations. At the same time, management increasingly looks to the tax function to add value to the organization, as evidenced by the 49% of respondents who identified an enhanced role of tax as a strategic partner in the 2021 […]
Read moreIn a joint statement released on November 17, 2021, the U.S. and Japan announced the formation of the U.S.-Japan Partnership on Trade, an initiative to facilitate regular discussions on trade issues, which both nations consider critical due to China’s continuing economic rise. The announcement was made during the first visit to Japan by the U.S. Trade Representative (USTR) […]
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