Due to the unique circumstances that many corporations found themselves in during 2020 as a result of the COVID-19 pandemic, there are some specific issues that tax managers need to consider when preparing their 2020 corporate tax returns. For example, many corporations benefited from various COVID-19 assistance programs that were available from federal and provincial governments.

Depending on the type of industry your corporation operates in, you may or may not have had experience dealing with the tax treatment of government assistance.

The following article explores the COVID-19 implications to corporate tax returns.