November 8, 2020 U.S. Tax This Week for November 6 Ernst & Young's U.S. Tax This Week newsletter for the week ending November 6 is now available. Prepared by Ernst & Young's National Tax Department in Washington, D.C., this weekly update summarizes important news, cases, and other developments in U.S. taxation.
————————————————————————— Eye on the Election (November 6) ————————————————————————— How the US general election impacts the global corporate tax outlook (November 12) ————————————————————————— Internal Revenue Service — Nov 05: IRS issues final regulations on life expectancy and distribution period tables for calculating required minimum distributions from qualified plans (Tax Alert 2020-2632) — Nov 05: IRS TE/GE publishes FY 2021 program letter, listing priorities for the year (Tax Alert 2020-2631) — Nov 04: IRS addresses REIT's leasing structure of health care properties to comply with state licensing requirements (Tax Alert 2020-2622) — Nov 02: IRS releases instructions for Forms W-2 and W-2c reporting of employee deferral and repayment of Social Security taxes under IRS Notice 2020-65 (Tax Alert 2020-2609) — Nov 02: IRS releases proposed regulations on implementing average income test for low-income housing tax credits (Tax Alert 2020-2608) International — Nov 05: Kenya's Tax Appeals Tribunal rules VAT is applicable on sale of commercial property, loan-related fees are not subject to excise duty (Tax Alert 2020-2634) — Nov 05: EY Canada's Tax Matters @ EY for November 2020 (Tax Alert 2020-2628) — Nov 03: Cyprus | Anticipated tax measures to be implemented including adoption of withholding taxes on payments made to EU non-cooperative jurisdictions (Tax Alert 2020-2617) — Nov 03: Japan and UK sign Comprehensive Economic Partnership Agreement (Tax Alert 2020-2616) — Nov 03: India releases implementation rules for Equalization Levy on e-commerce supply and services (Tax Alert 2020-2613) — Nov 02: Poland and the Netherlands sign protocol to revise tax treaty (Tax Alert 2020-2612) — Nov 02: OECD releases economic impact analysis of BEPS 2.0 project proposals (Tax Alert 2020-2611) — Nov 02: Chile's IRS establishes new transfer pricing documentation requirements (Tax Alert 2020-2610) — Nov 02: Canada Revenue Agency provides updates on CEWS and employee benefits (Tax Alert 2020-2606) — Oct 30: OECD releases new methodology for peer reviews of BEPS Action 13 on Country-by-Country Reporting (Tax Alert 2020-2598) — Oct 30: Initial reporting due date for Mexico MDR obligations is fast approaching (Tax Alert 2020-2594) — Oct 30: French court rules taxes levied on capital gains on sale of French shares by non-EU companies is contrary to free movement of capital (Tax Alert 2020-2593) — Oct 28: BREXIT | Status of UK citizens in Germany from January 1, 2021 discussed (Tax Alert 2020-2569) States — Nov 05: Various state and local tax-related ballot measures approved or rejected on November 3rd (Tax Alert 2020-2635) — Nov 05: North Carolina issues guidance on the filing of Form W-2 and Form 1099 for tax year 2020; new Form 1099-NEC will be accepted (Tax Alert 2020-2630) — Nov 04: Wisconsin issues guidance on income tax and nexus for employees working in the state temporarily due to COVID-19 (Tax Alert 2020-2624) — Nov 03: San Francisco extends ordinance that requires employers of 100 or more to rehire employees laid off due to COVID-19 before hiring other applicants (Tax Alert 2020-2615) — Nov 03: Read EY's state guide to payroll and employment tax provisions in response to COVID-19 (Tax Alert 2020-2604) — Oct 30: Colorado voters to decide whether state's flat income tax rate should be retroactively reduced and if there should be paid family and medical leave insurance program (Tax Alert 2020-2597) — Oct 30: Arizona voters to decide if an income tax increase should apply to high-income individuals (Tax Alert 2020-2595) ————————————————————————— ITS/Washington Dispatch Top story
IRS news
Transfer pricing news
OECD Developments
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Proposed Regulations
Revenue Procedures
Notices
Internal Revenue Bulletin
Because the matters covered herein are complicated, U.S. Tax This Week should not be regarded as offering a complete explanation and should not be used for making decisions. Any decision concerning matters covered herein should be reviewed with a qualified tax advisor. | ||||||||||||||||||||||||||||