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Tax deferral benefits loom as next year’s bills rise
Companies that benefited from CARES Act payroll tax deferrals report hundreds of millions in immediate cash gains while warning of looming repayment costs. Among the beneficiaries are Walgreens Boots Alliance, UPS, Lowe’s, Lockheed Martin, and Chipotle Mexican Grill, with CFOs noting $230 million due in 2021 and 2022 each for Lockheed and similar timing for others.
MENTIONED IN THIS ARTICLE
Cameron Hess
Wagner Kirkman
Blaine Klomparens & Youmans LLP
Sacramento
California
U.S. Treasury
U.S
Donald Trump
Walgreens Boots Alliance Inc
United Parcel Service Inc
Lowe’s Cos
Lockheed Martin Corp
Lowe’s
UPS
Lockheed’s
Ken Possenriede
Erica York
The
Tax Foundation
Chipotle Mexican Grill Inc
Chipotle
Jack Hartung