December 12, 2021 U.S. Tax This Week for December 10 Ernst & Young's U.S. Tax This Week newsletter for the week ending December 10 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.
————————————————————————— Implications of the Superfund chemicals excise tax (December 13) BEPS 2.0: Focus on Pillar Two (December 14) Tax aspects of the LIBOR transition: What to consider for year-end (December 16) Accounting for income taxes: A quarterly perspective (December 16) Tax in the time of COVID-19: Update on legislative, economic, regulatory and IRS developments (December 17) Private Equity and Private Capital - Navigating transformative global and US legislative change (January 18) ————————————————————————— Internal Revenue Service — Dec 09: IRS posts two FAQs addressing 2021 short-tax-year filing requirements for pass-through entities in light of not-yet-final forms (Tax Alert 2021-2212) — Dec 07: IRS will not acquiesce in Mayo Clinic UBIT case addressing whether an 'educational organization' must primarily provide formal, traditional instruction (Tax Alert 2021-2202) — Dec 07: IRS addresses low-income housing tax credits and 4% floor (Tax Alert 2021-2201) — Dec 06: IRS provides guidance for employers on the retroactive termination of the ERC (Tax Alert 2021-2198) — Dec 03: IRS reinstates temporary reduction in required cash distributions to shareholders of public REITS and RICs (Tax Alert 2021-2193) International — Dec 09: Taiwan and UK sign protocol to amend tax treaty (Tax Alert 2021-2214) — Dec 09: Taiwan's tax treaty with Saudi Arabia enters into force (Tax Alert 2021-2213) — Dec 08: Canadian employer obligation on deemed supplies made to pension and master pension entities discussed (Tax Alert 2021-2208) — Dec 08: Supreme Court of Canada dismisses Crown's appeal in The Queen v. Loblaw Financial Holdings Inc. (Tax Alert 2021-2207) — Dec 07: Mexico City's 2022 economic proposal includes the imposition of new taxes on certain digital services (Tax Alert 2021-2205) — Dec 07: Portugal modifies transfer pricing regime (Tax Alert 2021-2204) — Dec 07: Colombia and Uruguay sign double tax treaty (Tax Alert 2021-2203) — Dec 07: UK's imminent December deadline for VAT refund claims for non-registered and non-established EU and non-EU businesses discussed (Tax Alert 2021-2200) — Dec 06: 2021 holiday travel guide for the United States (Tax Alert 2021-2197) — Dec 03: South Korea temporarily suspends quarantine exemptions for certain travelers and announces new restrictions for travelers from nine African countries (Tax Alert 2021-2186) Legislation — Dec 08: What to expect in Washington (December 8) (Tax Alert 2021-2209) — Dec 03: President Biden unveils winter COVID-19 plan to ramp up boosters and vaccinations, expand free at-home testing and more (Tax Alert 2021-2187) States — Dec 08: Massachusetts paid family and medical leave contributions will decrease effective January 1, 2022 (Tax Alert 2021-2211) — Dec 06: Colorado creates new state certificate employees can use for the employer's calculation of state income tax withholding (Tax Alert 2021-2199) ————————————————————————— State and Local Tax Weekly — North Carolina enacts significant tax law changes affecting businesses and individuals On Nov. 18, 2021, Governor Roy Cooper signed into law the 2021 Appropriations Act (2021—2022 N.C. Sess. Laws, ch. SL 2021-180, 2021 NC Senate Bill 105(the Bill), which affects various North Carolina taxes. — Income/Franchise, Sales & Use, Business Incentives, Property Tax, Controversy, Payroll & Employment Tax, Miscellaneous Tax, Global Trade, Value Added Tax ITS/Washington Dispatch Legislation
IRS news
Digital Taxation
OECD news
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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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