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April 6, 2020
2020-5527

Tax and business challenges in the time of COVID-19 – survey results

Businesses continue to navigate an ever-changing tax policy environment, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act in the United States, given the spread of the coronavirus (COVID-19). The volume and pace of information has not stopped, and yet the difficulty of staying on top of these developments has increased. Tax departments are struggling to keep up with the implications, while businesses overall face significant challenges. During EY's 27 March 2020 webcast, we surveyed more than 5,000 executives to understand the impact of COVID-19 on their organizations. Here are some of the results in the attached PDF.

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The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

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