November 7, 2021 U.S. Tax This Week for November 5 Ernst & Young's U.S. Tax This Week newsletter for the week ending November 5 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.
————————————————————————— Insurance Tax Forum: How insurers may be impacted by BEPS 2.0 Pillar Two and how they might respond (November 9) International tax talk quarterly series with the EY Global Tax Desk Network (November 9) Tax in supply chain series: India – from resilience to resurgence (November 10) 2021 Forms 1099 and 1042-S: New Forms W-8 and what filers need to know this reporting season (November 17) 2021 employment tax year in review (December 7) ————————————————————————— Courts — Nov 03: Tax Court respects non-taxable debt-financed distribution but holds that portion of financing was equity (Tax Alert 2021-2003) Internal Revenue Service — Nov 03: IRS issues new FAQs providing instructions for certain carried interest reporting (Tax Alert 2021-2008) International — Nov 04: Thailand publishes mandatory requirements for submission of Thai transfer pricing Country-by-Country reports (Tax Alert 2021-2016) — Nov 04: EY Canada's Tax Matters @ EY for November 2021 (Tax Alert 2021-2015) — Nov 04: Cyprus issues Ministerial Decree on DAC6 Guidelines (Tax Alert 2021-2014) — Nov 03: Colombia issues regulations to identify preferential tax regimes (Tax Alert 2021-2010) — Nov 03: Mexico and Germany sign new protocol to tax treaty (Tax Alert 2021-2007) — Nov 03: US and EU agree to end steel and aluminum tariffs and cooperate to address carbon intensity (Tax Alert 2021-2005) — Nov 02: Peru's President asks Congress for power to enact different tax measures (Tax Alert 2021-2000) — Nov 02: Argentina announces new policies for inbound travelers (Tax Alert 2021-1999) — Nov 02: Uruguay announces new policies for inbound travelers (Tax Alert 2021-1995) — Nov 02: G20 leaders confirm commitment to global tax changes under BEPS 2.0 (Tax Alert 2021-1991) — Nov 01: Canada's targeted COVID-19 support measures announced (Tax Alert 2021-1987) — Oct 29: Mexican Congress approves 2022 tax reform (Tax Alert 2021-1982) — Oct 29: Sweden extends entry ban and adds new categories of travelers to exemption list (Tax Alert 2021-1981) — Oct 29: Vietnam releases a Circular on digital tax (Tax Alert 2021-1980) Legislation — Nov 05: What to expect in Washington (November 5) (Tax Alert 2021-2025) — Nov 04: CMS finalizes physician, outpatient/ASC and home health final payment rules (Tax Alert 2021-2013) — Nov 04: House reconciliation manager's amendment includes tax changes (Tax Alert 2021-2012) — Nov 03: Democrats release compromise on drug pricing deal aimed for inclusion in Build Back Better Act (Tax Alert 2021-2001) — Nov 01: Latest Build Back Better proposal includes 15% corporate minimum tax on book income (Tax Alert 2021-1990) — Nov 01: Health care provisions in the Build Back Better Act Draft Rules Committee print (Tax Alert 2021-1989) States — Nov 04: Council on State Taxation (COST) releases EY report on state and local taxes paid by businesses in fiscal year 2020 (Tax Alert 2021-2019) — Nov 04: California Franchise Tax Board issues legal ruling on unitary apportionment principles for pass-through entities and their owners (Tax Alert 2021-2017) — Nov 03: Puerto Rico's Treasury Department announces new monthly return for consolidated sales and use tax and tax on imports effective for the month of October and subsequent periods (Tax Alert 2021-2009) — Nov 03: Ohio legislature adopts streamlined filing processes for municipal net profits taxes (Tax Alert 2021-2006) — Nov 02: New York announces increase in Paid Family Leave insurance contribution rate for 2022 (Tax Alert 2021-1998) — Nov 02: Federal unemployment tax (FUTA) credit reduction outlook for 2021 and beyond; September 2021 jobless rate decreased (Tax Alert 2021-1997) — Nov 01: Louisiana's voluntary intercompany transfer pricing initiative begins November 1 (Tax Alert 2021-1994) ————————————————————————— State and Local Tax Weekly — Proposed federal bills would reinstate, expand and increase superfund excise taxes as soon as January 1, 2022. Taxpayers in multiple sectors may soon be obligated to pay superfund excise taxes on products they manufacture or import. — Income/Franchise, Sales & Use, Business Incentives, Compliance & Reporting, Payroll & Employment Tax, Miscellaneous Tax, Upcoming Webcasts ————————————————————————— 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. | ||||||||||||||||
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