March 30, 2023 U.S. Tax This Week for March 31 Ernst & Young's U.S. Tax This Week newsletter for the week ending March 31 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.
————————————————————————— The Latest on BEPS and Beyond | 2022 and beyond in review EY's 2023 Global Tax Policy and Controversy outlook is now available EY 2023 Tax Policy and Controversy Outlook Five steps tax accounting teams can take to prepare for BEPS 2.0 ———————————————————————— What to know about the 2023 EY Tax risk and controversy survey results — Americas and Europe (April 5) Tax in a time of transition: Legislative, economic, regulatory and IRS developments (April 21) US corporate income tax compliance: Tax year 2022 readiness and planning for what’s next and beyond (April 26) ————————————————————————— Internal Revenue Service — Mar 29: IRS requests feedback for forthcoming guidance on NFTs (Tax Alert 2023-0606) — Mar 27: IRS concludes sell-side financial advisory fees are properly taken into account by seller in denial of target's request to make late success-based fee election (Tax Alert 2023-0572) — Mar 23: IRS official says enhanced IRS pre-filing process will provide taxpayers with a more robust view of APA suitability (Tax Alert 2023-0550) International — Mar 30: Portugal begins accepting online Residence Permit applications from nationals of Portuguese-Speaking Countries (Tax Alert 2023-0616) — Mar 30: Brazil reinstates visa requirements for Australia, Canada, Japan and US nationals (Tax Alert 2023-0615) — Mar 30: Poland defers deadline for Corporate Income Tax and Shifted Profits Tax (Tax Alert 2023-0614) — Mar 30: Japan enacts 2023 tax reform bill including legislation to implement IIR to align with OECD BEPS 2.0 Pillar Two (Tax Alert 2023-0613) — Mar 30: Costa Rican Executive Branch publishes regulations on law to promote investment competitiveness outside the Greater Metropolitan Area (Tax Alert 2023-0612) — Mar 29: UK ends concession for offshore wind workers on April 30 (Tax Alert 2023-0604) — Mar 29: Peruvian Government modifies minimum interest rate allowed for national and foreign currency loans (Tax Alert 2023-0601) — Mar 29: Canada extends Canada-Ukraine Authorization for Emergency Travel program (Tax Alert 2023-0598) — Mar 29: Canada announces new federal permanent residence program (Tax Alert 2023-0597) — Mar 29: USCIS Announces Completion of H-1B Initial Electronic Registration Selection Process (Tax Alert 2023-0596) — Mar 28: Czech Republic extends visa ban for Russian and Belarusian nationals until March 31, 2024 (Tax Alert 2023-0594) — Mar 28: Bulgaria introduces measures for addressing high energy prices (Tax Alert 2023-0593) — Mar 28: Panama announces major changes in work permit regulations effective April 1 (Tax Alert 2023-0591) — Mar 28: Kenya Tax Appeals Tribunal reiterates that private ruling is binding on Tax Authority (Tax Alert 2023-0590) — Mar 28: UK publishes legislation for multinational top-up tax and domestic top-up tax (Tax Alert 2023-0589) — Mar 27: USCIS announces COVID-related updates (Tax Alert 2023-0581) — Mar 27: Saudi Arabia announces third wave of Phase 2 e-invoicing integration (Tax Alert 2023-0574) — Mar 24: Nova Scotia budget 2023–24 discussed (Tax Alert 2023-0570) — Mar 24: Denmark passes bill simplifying hiring of third-country nationals (Tax Alert 2023-0567) — Mar 24: Ontario budget 2023–24 discussed (Tax Alert 2023-0566) — Mar 24: Saskatchewan budget 2023–24 discussed (Tax Alert 2023-0565) — Mar 24: New Brunswick budget 2023–24 discussed (Tax Alert 2023-0564) — Mar 24: Newfoundland and Labrador budget 2023–24 discussed (Tax Alert 2023-0563) — Mar 24: Québec budget 2023–24 discussed (Tax Alert 2023-0561) — Mar 23: Turkey introduces additional tax for 2022 (Tax Alert 2023-0557) — Mar 23: Turkey introduces tax amnesty (Tax Alert 2023-0556) — Mar 23: Canadian Post-Graduation Work Permit holder extensions announced (Tax Alert 2023-0553) — Mar 23: South Africa announces upcoming changes to address visa application backlogs and processing times (Tax Alert 2023-0552) Legislation — Mar 29: Senate Banking Committee questions regulators on recent bank failures and federal rescue efforts (Tax Alert 2023-0610) — Mar 29: What to expect in Washington (March 29) (Tax Alert 2023-0599) — Mar 27: FY2024 Budget proposals could have state income tax implications (Tax Alert 2023-0587) — Mar 24: Senate Finance Committee and Senate Appropriations Subcommittee hold hearings on HHS FY 2024 budget request (Tax Alert 2023-0569) — Mar 24: House Ways & Means Health Subcommittee holds hearing on factors driving unaffordable health care (Tax Alert 2023-0568) — Mar 23: Senate Health, Education, Labor and Pensions Committee hearing on Moderna's proposed COVID-19 vaccine price increase (Tax Alert 2023-0551) States — Mar 30: Alabama tax court upholds assessment of income tax on remote worker providing services from home office in Idaho (Tax Alert 2023-0609) — Mar 29: Washington Supreme Court holds capital gains tax is a valid excise tax, not an unconstitutional income tax — affected taxpayers may need to take immediate action (Tax Alert 2023-0608) — Mar 29: Unclaimed property holders that want to participate in California's Voluntary Compliance Program can now submit an interest form to receive an application (Tax Alert 2023-0607) — Mar 29: Illinois adopts amended Retailers' Occupation Tax sourcing and marketplace regulations (Tax Alert 2023-0605) — Mar 24: Kentucky law updates IRC conformity, adopts an elective passthrough entity tax, and makes sales/use tax changes (Tax Alert 2023-0571) ————————————————————————— Proposed Regulations
Revenue Procedures
Revenue Rulings
Announcements
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. | ||||||||||||||||||||||