November 21, 2021 U.S. Tax This Week for November 19 Ernst & Young's U.S. Tax This Week newsletter for the week ending November 19 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.
————————————————————————— Examining implications of new Chief Counsel memorandum on research-credit-based refund claims (November 30) 2021 Year-end tax planning and other hot topics for asset managers (December 2) Domestic tax quarterly webcast series: A focus on state tax matters (December 2) 2021 employment tax year in review (December 7) Tax aspects of the LIBOR transition: What to consider for year-end (December 16) ————————————————————————— Internal Revenue Service — Nov 18: IRS rules large, unanticipated grant to public charity won't adversely affect public support requirements (Tax Alert 2021-2112) — Nov 18: IRS releases 2022 inflation adjustments for fringe benefits and Form W-2/1099 information reporting penalties (Tax Alert 2021-2111) — Nov 17: IRS clarifies that temporary 100% deduction for restaurant meals applies to meal portion of per diem payments (Tax Alert 2021-2104) — Nov 17: Tax M&A Update October 2021 (Tax Alert 2021-2102) — Nov 15: QUEST Economic Update highlights key US and global economic trends — November 15, 2021 (Tax Alert 2021-2090) International — Nov 18: Austrian Ministry of Finance publishes draft bill to reduce Corporate Income Tax and introduce Carbon Tax (Tax Alert 2021-2114) — Nov 18: UK | Review of the new Asset Holding Company regime (Tax Alert 2021-2113) — Nov 18: Israel implements new policies for international inbound travelers (Tax Alert 2021-2109) — Nov 17: Tanzania issues regulations on VAT exemption management procedures (Tax Alert 2021-2099) — Nov 16: Poland submits new draft law on the employment of foreigners to Parliament (Tax Alert 2021-2092) — Nov 16: The Latest on BEPS and Beyond for November 2021 (Tax Alert 2021-2091) — Nov 16: Belgium implements new tax regime for inbound taxpayers and researchers (Tax Alert 2021-2088) — Nov 15: Ireland announces relaxed entry measures for Christmas period and reduced document requirements for citizenship applications (Tax Alert 2021-2086) — Nov 15: Asean Mobility Spotlight (November 10) (Tax Alert 2021-2085) — Nov 15: Philippines proposes law imposing VAT on nonresident digital service providers (Tax Alert 2021-2084) — Nov 12: Brazilian tax authority limits nonresident capital gains tax on the sale of Brazilian shares by a Portuguese investor to 15% (Tax Alert 2021-2076) — Nov 12: Ecuador's National Assembly to discuss tax reform bill (Tax Alert 2021-2074) — Nov 12: PE Watch | Latest developments and trends, November 2021 (Tax Alert 2021-2068) — Nov 12: Kenya Tax Appeal Tribunal rules on use of Transaction Value Method for customs valuation (Tax Alert 2021-2067) — Nov 12: Singapore provides update on Goods and Services Tax (Tax Alert 2021-2066) — Nov 12: European Parliament provides final approval needed for formal adoption of public CbCR Directive (Tax Alert 2021-2061) Legislation — Nov 18: Departments issue rule detailing new requirements for health plans and insurers to report on prescription drug and health spending (Tax Alert 2021-2110) — Nov 17: Small businesses investing in certain energy technologies eligible for new federal grant program under Infrastructure Investment and Jobs Act (Tax Alert 2021-2101) — Nov 17: Ways & Means subpanel holds Opportunity Zone hearing (Tax Alert 2021-2098) — Nov 17: What to expect in Washington (November 17) (Tax Alert 2021-2097) — Nov 12: Infrastructure bill will retroactively repeal fourth-quarter 2021 employee retention credits (Tax Alert 2021-2075) ————————————————————————— State and Local Tax Weekly — Council on State Taxation (COST) releases EY report on the state and local taxes paid by businesses in fiscal year 2020. In a newly released report, "Total state and local business taxes, State-by-state estimates for FY 2020," prepared in conjunction with the Council on State Taxation (COST) and State Tax Research Institute (STRI), EY's Quantitative Economics and Statistics Group estimates the state and local taxes paid by businesses in fiscal year 2020 (FY20). — Connecticut's tax amnesty program runs through January 31, 2022. The Connecticut Department of Revenue Services (CT DRS) is conducting a tax amnesty program that began Nov. 1, 2021 and ends Jan. 31, 2022. — Income/Franchise, Sales & Use, Business Incentives, Compliance & Reporting, Payroll & Employment Tax, Upcoming Webcasts ————————————————————————— Revenue Procedures
Revenue Rulings
Notices
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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