March 13, 2022 U.S. Tax This Week for March 11 Ernst & Young's U.S. Tax This Week newsletter for the week ending March 11 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.
————————————————————————— Tax in the time of COVID-19: Update on legislative, economic, regulatory and IRS (March 18) Accounting for income taxes: A quarterly perspective (March 22) Transparency in the sharing economy: What to know about DAC7 and beyond (March 24) US corporate income tax compliance - Tax year 2021 readiness and preparing your tax function for what’s next (April 6) ————————————————————————— Courts — Mar 09: In taxpayer-favorable decision, Tax Court holds insurance policies' cash-surrender values aren't included in taxpayer's estate where decedent had no right to terminate policies (Tax Alert 2022-0392) — Mar 07: Partnership's environmental consulting activities were profit-driven, even if imperfect, Tax Court concludes (Tax Alert 2022-0382) — Mar 04: Federal court rules challenge to Maryland's Digital Advertising Services Tax barred by Tax Injunction Act, but pass-through prohibition may be challenged (Tax Alert 2022-0375) Internal Revenue Service — Mar 10: TE/GE director suggests contacting the IRS for corrections to the Business Master File Extract, refers applicants to IRS webpage for exemption application status updates (Tax Alert 2022-0399) — Mar 08: Tax M&A Update for February 2022 (Tax Alert 2022-0383) — Mar 04: QUEST Economic Update highlights key US and global economic trends - March 4, 2022 (Tax Alert 2022-0376) International — Mar 10: Peru's President amends the Tax Code (Tax Alert 2022-0403) — Mar 10: Italian Tax Authorities issue implementing instructions for new patent box regime (Tax Alert 2022-0401) — Mar 10: PE Watch | Latest developments and trends, March 2022 (Tax Alert 2022-0397) — Mar 09: Colombia and the Netherlands sign double tax treaty (Tax Alert 2022-0396) — Mar 09: US bans imports of Russia energy products; bans exports of oil refinery equipment to Russia (Tax Alert 2022-0394) — Mar 09: Italy revamps opportunity to tax step-up participations and land (Tax Alert 2022-0393) — Mar 09: Canada releases proposed EIFEL rules (Tax Alert 2022-0391) — Mar 09: New Zealand delays introduction of proposed changes to GST invoicing requirements (Tax Alert 2022-0387) — Mar 08: Costa Rica proposes allowing corporations to pay annual tax owed for tax years 2016 through 2021 on legal entities without paying interest and penalties (Tax Alert 2022-0386) — Mar 08: Canada announces new immigration measures to support those impacted by the Ukrainian crisis (Tax Alert 2022-0385) — Mar 08: Peru's President amends law regulating use of Peruvian banking system for tax purposes (Tax Alert 2022-0384) — Mar 07: Bahrain introduces Golden Residence Permits (Tax Alert 2022-0380) — Mar 07: CJEU holds that customer recharge of costs of repair of goods under warranty to its supplier may be deemed consideration for supply by the customer (Tax Alert 2022-0379) — Mar 04: USCIS decouples adjudication of applications for Employment Authorization and Advance Parole travel documents to address backlog (Tax Alert 2022-0373) — Mar 04: US designates Ukraine for Temporary Protected Status for eighteen months (Tax Alert 2022-0372) — Mar 04: Mexican input VAT may no longer be creditable for activities performed outside Mexico - action required by March 10 (Tax Alert 2022-0370) — Mar 04: Yukon budget 2022-23 discussed (Tax Alert 2022-0366) — Mar 04: Canada imposes new sanctions on Russia, ceases issuance of export permits for exports of goods to Russia (Tax Alert 2022-0365) Legislation — Mar 10: House passes $1.5T omnibus bill with telehealth extensions and other health care provisions (Tax Alert 2022-0398) — Mar 09: What to expect in Washington (March 9) (Tax Alert 2022-0390) States — Mar 10: Our US employment tax rates and limits publication is updated through February 2022 (Tax Alert 2022-0402) — Mar 09: California guidance addresses Proposition 19 changes to property tax consequences of certain real property transfers (Tax Alert 2022-0389) — Mar 07: Idaho law extends 2021 SUI tax rates through 2023; 2022 SUI wage base increased (Tax Alert 2022-0381) ————————————————————————— State and Local Tax Weekly
ITS/Washington Dispatch BEPS 2.0
Treasury and IRS news
OECD developments
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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. | ||||