Evolving Remote Workforce Brings Uncertainty, Practitioners Say
Remote work continues to be the new norm as the COVID-19 pandemic evolves, and the tax consequences of that remain unclear, according to state tax practitioners.
At the beginning of the COVID-19 pandemic, many companies anticipated remote work to be a temporary response to emergency orders and lockdowns. But "the COVID situation just seems to be really evolving,” and taxpayers and professionals need "the ability to think ahead and be nimble," according to Mitchell A. Newmark of Blank Rome LLP. Speaking during a December 15 panel discussion at the New York University School of Professional Studies’ Institute on State and Local Taxation, Newmark cautioned, “We can’t tell you what you’re going to have to deal with tomorrow.”
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Newmark mused that part of the problem is the uncertainty of the disease itself. “If COVID winds up getting a little worse, do the majority of employees not want to come back at all? If we wind up with a magic bullet for COVID, do we wind up pretty close to the kind of situation we had before? Or do we have some kind of new normal, where we are now, just trying to stabilize like this?”
“Maybe we just wind up with everyone working everywhere,” suggested Newmark.
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“Evolving Remote Workforce Brings Uncertainty, Practitioners Say,” by Amy Hodges was published in Tax Notes on December 17, 2021.