October 16, 2022 U.S. Tax This Week for October 14 Ernst & Young's U.S. Tax This Week newsletter for the week ending October 14 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.
————————————————————————— EY Tax.Tech™ Ecosystem series: Unlocking the power of connected tax analytics (October 20) Tax in the time of COVID-19: Update on legislative, economic, regulatory and IRS developments (October 21) US corporate income tax compliance: Insights from Tax Year 2021 and planning for the next age of compliance (October 26) BorderCrossings . . . With EY transfer pricing and tax professionals (October 27) ————————————————————————— Internal Revenue Service — Oct 12: Final rules base eligibility for premium tax credit on cost of covering family (Tax Alert 2022-1549) — Oct 12: Final rules modify average income test for low-income housing credits (Tax Alert 2022-1546) — Oct 07: IRS revokes exempt status of entity organized to provide scholarships to employees of related organization (Tax Alert 2022-1528) International — Oct 13: Austria implements new, relaxed eligibility criteria for Red-White-Red Cards (Tax Alert 2022-1553) — Oct 12: Update provided regarding Canada's proposed federal investment tax credit for carbon capture, utilization and storage (Tax Alert 2022-1542) — Oct 12: Uruguayan Government submits bill to Parliament to modify Uruguayan CIT source criteria (Tax Alert 2022-1541) — Oct 11: Spanish Supreme Court rules on dynamic interpretation of tax treaties and "substance-over-form" characterization of cross-border transfer of client and operational data (Tax Alert 2022-1538) — Oct 11: EU Member States formally adopt electricity revenue cap and solidarity contribution of fossil fuel sector (Tax Alert 2022-1535) — Oct 11: Costa Rica's General Directorate of Treasury publishes new criteria for selecting tax exemption regimes and beneficiaries under their supervision for audits (Tax Alert 2022-1533) — Oct 10: Peruvian Congress ratifies Convention to Harmonize Double Tax Treaties of Pacific Alliance (Tax Alert 2022-1530) — Oct 10: Mexico takes first steps to ratify MLI (Tax Alert 2022-1529) — Oct 07: Malaysia introduces new Social Visit Pass feature to allow foreigners undertake critical/emergency work (Tax Alert 2022-1521) States — Oct 12: Illinois Department of Revenue automatically extends the extended due date for calendar year 2021 corporate income tax returns to November 15 (Tax Alert 2022-1548) — Oct 12: Maine law requires employers with more than 10 employees to pay accrued vacation at termination starting January 1, 2023 (Tax Alert 2022-1545) — Oct 11: A FUTA credit reduction is projected to apply in seven jurisdictions in 2022; most states have not imposed federal interest surtaxes on employers (Tax Alert 2022-1536) — Oct 11: Florida provides unemployment insurance relief to employees and employers impacted by Hurricane Ian (Tax Alert 2022-1534) — Oct 10: Iowa updates income tax withholding reporting requirements, establishes penalty for late and inaccurate Forms W-2/1099 (Tax Alert 2022-1531) — Oct 10: District of Columbia withholding instructions and tables do not currently reflect tax increases that were effective January 1, 2022 (Tax Alert 2022-1526) — Oct 07: Puerto Rico's Treasury Department issues guidance on special disaster distributions from retirement plans and IRA accounts due to Hurricane Fiona (Tax Alert 2022-1525) ————————————————————————— Final Regulations
Proposed Regulations
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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