August 8, 2020

Volume X, Number 221

Cutting Through the COVID-19 Chaos: Strategies for Investing in Private Funds in Uncertain Times

Join McDermott Will & Emery as we discuss international income tax-related issues, state and local tax ramifications and immigration issues brought on by COVID-19. 

  • Income tax related issues: Will nonresident aliens (NRAs) lose their status as NRAs? Will they be exposed to US tax on income earned while sheltering in place in the US? Will NRAs working in the United States during COVID-19 expose their companies to US taxation? Will their foreign trusts lose that status? Will the new governmental relief measures cure the problems?

  • State and local tax ramifications: Will individuals be treated as state income tax residents while sheltering in place in a particular state? Will employees working from home create a taxable presence in such state for their employer? How will these issues implicate estate plans?

  • Immigration issues: Do NRAs jeopardize overstaying their visas? How can NRA’s travel to the US during COVID-19 travel bans? What other impact will their stay in the United States during COVID-19 trigger?

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