The end of the year can bring new opportunities for tax planning. Our Federal Tax Group explains how 2021 year-end or 2022 sellers in M&A transactions can consider accelerating deductions for payroll taxes deferred under the CARES Act.
- The CARES Act does not prohibit early payments of deferred payroll taxes
- Sellers may benefit from paying the deferred payroll tax liability before closing and accelerating the deductions
- Sellers should consider the overall tax impact of the additional deductions
Read the full advisory here.