November 20, 2022 U.S. Tax This Week for November 18 Ernst & Young's U.S. Tax This Week newsletter for the week ending November 18 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.
————————————————————————— New proposed foreign tax credit regulations: what changed, what didn’t, and what could it all mean for your company? (December 1) 2022 year-end tax considerations and other hot topics for asset managers (December 5) How to navigate information requests in transfer pricing audits (December 6) Domestic tax quarterly webcast series - A focus on state tax matters (December 7) Global Treasury: Key tax trends and topics to consider for 2023 (December 8) 2022 employment tax year in review (December 8) Accounting for income taxes - a quarterly perspective (December 13) Omnishoring: Recent trends in supply chain, tax and global trade (December 13) ax in the time of COVID-19: update on legislative, economic, regulatory and IRS developmentse (December 16) ————————————————————————— Internal Revenue Service — Nov 15: IRS and Treasury issue 2022 - 2023 Priority Guidance Plan, addressing various accounting method issues (Tax Alert 2022-1715) — Nov 14: IRS announces rate increase for renewable electricity production credit based on Inflation Reduction Act amendments (Tax Alert 2022-1709) — Nov 11: IRS 2022–2023 Priority Guidance Plan includes transfer pricing projects similar to last year (Tax Alert 2022-1704) — Nov 10: FY2023 priorities for IRS Tax Exempt & Government Entities division provided in annual Priority Guidance Plan and TE/GE Program Letter (Tax Alert 2022-1693) International — Nov 17: UK Chancellor delivers Autumn Statement (Tax Alert 2022-1727) — Nov 17: Global Tax Policy and Controversy Watch | November 2022 edition (Tax Alert 2022-1726) — Nov 16: UAE issues resolution on tax residency (Tax Alert 2022-1723) — Nov 16: Israeli court rules IP value is six times higher (Tax Alert 2022-1721) — Nov 16: Malta launches new “Startup Residence Programme” for business founders and core employees (Tax Alert 2022-1718) — Nov 15: Government of Canada announces withdrawal of Most-Favored-Nation tariff benefit on goods originating in Russia and Belarus (Tax Alert 2022-1714) — Nov 15: The Latest on BEPS and Beyond | November 2022 (Tax Alert 2022-1713) — Nov 15: China Mainland relaxes COVID-19-related travel restrictions (Tax Alert 2022-1711) — Nov 14: Argentine Lower House of Congress approves Budget bill for 2023 (Tax Alert 2022-1710) — Nov 11: Australia announces reshaping skilled migration and resetting processing priorities (Tax Alert 2022-1702) — Nov 11: New Zealand's minimum wage threshold to increase while reform remains a work in progress (Tax Alert 2022-1701) — Nov 11: Canada's revised EIFEL proposals discussed (Tax Alert 2022-1699) — Nov 11: Argentine Commission on Foreign Affairs approves bill to ratify MLI (Tax Alert 2022-1697) Legislation — Nov 18: What to expect in Washington (November 18) (Tax Alert 2022-1735) States — Nov 17: 2022 FUTA credit reduction to apply in five jurisdictions (Tax Alert 2022-1728) — Nov 17: New Hampshire positive-balanced employers' SUI tax rates continue at base rates for second-quarter 2022 (Tax Alert 2022-1725) ————————————————————————— State and Local Tax Weekly — Treasury announces $5 billion award for New Markets Tax Credit program for CY 2021. On Oct. 28, 2022, the Treasury Department announced that it awarded $5 billion in New Markets Tax Credit (NMTC) allocations to successful Community Development Entities (CDEs) from the 2021 application round. The $5 billion was awarded to 107 CDEs headquartered in 35 states and the District of Columbia. — Income/Franchise, Sales & Use, Business Incentives, Property Tax, Compliance & Reporting, Payroll & Employment Tax, Value Added Tax, Upcoming Webcasts ————————————————————————— Corrections
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. | ||||||||||||||||