September 22, 2023 U.S. Tax This Week for September 22 Ernst & Young's U.S. Tax This Week newsletter for the week ending September 22 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.
————————————————————————— Accounting for income taxes: a quarterly perspective (September 26) Crypto and digital asset information reporting (September 27) BorderCrossings with EY transfer pricing and tax professionals ... OECD BEPS 2.0 transfer pricing update (September 28) Metaverse event: Charitable giving with appreciated assets and cryptocurrency (September 29) IRC Section 174 interim Treasury and IRS guidance: Technical aspects, business implications and uncertainties of Notice 2023-63 (October 3) Refocusing on the global trade functional organization ... A global trade perspective (October 5) Spotlight on BEPS 2.0: developments and practical implications for US MNEs (October 11) How to energize a workforce in the great rebalance (October 17) How transferable tax credits are changing the tax landscape (October 17) ————————————————————————— Internal Revenue Service — Sep 21: IRS previews proposed changes to Form 6765 and requests comments (Tax Alert 2023-1575) — Sep 20: IRS publishes additional interim guidance clarifying certain provisions of the corporate alternative minimum tax (Tax Alert 2023-1570) — Sep 19: IRS announces moratorium on processing new claims for employee retention credit (Tax Alert 2023-1561) International — Sep 21: Canada | Distributed investment plans required to request certain investor information by 15 October 2023 (Tax Alert 2023-1579) — Sep 21: Qatar mandates health insurance policy for multi-entry work visa holders (Tax Alert 2023-1574) — Sep 20: Costa Rican President partially vetoes law aimed at making reforms to achieve exclusion from EU list of non-cooperative jurisdictions in tax matters (Tax Alert 2023-1571) — Sep 20: The Latest on BEPS and Beyond | September 2023 (Tax Alert 2023-1566) — Sep 20: Luxembourg legislation modernizes subscription tax regime (Tax Alert 2023-1565) — Sep 20: Argentine Government proposes to evaluate a 15% corporate minimum tax (Tax Alert 2023-1564) — Sep 19: Netherlands budget proposals: Key legislative developments for 2024 and 2025, including Pillar Two minimum tax (Tax Alert 2023-1563) — Sep 19: Mexico eliminates COVID-19-related relaxation of immigration deadlines for residence permit holders (Tax Alert 2023-1562) — Sep 19: Global Tax Policy and Controversy Watch | September 2023 edition (Tax Alert 2023-1560) — Sep 19: Hong Kong and Bangladesh sign comprehensive double taxation arrangement (Tax Alert 2023-1557) — Sep 19: Saudi Arabia approves amendments to Income Tax Bylaws and Zakat Regulations (Tax Alert 2023-1556) — Sep 19: Indonesia introduces new Golden Visa route (Tax Alert 2023-1555) — Sep 19: Luxembourg implements new immigration regulations for employers, third-country nationals and dependents (Tax Alert 2023-1554) — Sep 18: Uruguay extends VAT rate-reduction period for tourism sector (Tax Alert 2023-1553) — Sep 18: Brazil to begin issuing new visa and residence permits for nationals of Community of Portuguese Language Countries (Tax Alert 2023-1550) — Sep 18: UK's new visa application fees to go into effect on 4 October 2023 (Tax Alert 2023-1549) — Sep 18: Bulgaria planning to introduce SAF-T, affecting most businesses (Tax Alert 2023-1548) — Sep 15: Irish Government publishes roadmap for introducing dividend participation exemption to Ireland's corporation tax system (Tax Alert 2023-1543) — Sep 15: USCIS issues policy guidance to clarify eligibility for Extraordinary Ability and Outstanding Professor/Researcher immigrant visa classifications (Tax Alert 2023-1542) — Sep 15: Taiwan announces foreign institutional investors may use Taiwan-listed stocks as collateral for offshore investment activities (Tax Alert 2023-1538) — Sep 15: European Commission proposes BEFIT and Transfer Pricing Directives (Tax Alert 2023-1537) — Sep 15: Turkiye's Constitutional Court annuls rule that allows blocking access to digital services upon default on Digital Services Tax liability (Tax Alert 2023-1536) Legislation — Sep 20: US Treasury economist states US preference on transfer pricing rules (Tax Alert 2023-1568) — Sep 20: What to expect in Washington (September 20) (Tax Alert 2023-1567) States — Sep 20: Nebraska district court denies dividend received deduction for IRC Section 965(a) inclusion income (Tax Alert 2023-1572) — Sep 20: Arkansas lowers personal income and corporate tax rates starting in 2024 (Tax Alert 2023-1569) — Sep 19: Illinois law requires that employers provide transit benefits to their employees starting in 2024 (Tax Alert 2023-1558) — Sep 18: Tennessee remote worker triggers state business tax liabilities (Tax Alert 2023-1551) ————————————————————————— State and Local Tax Weekly — New Jersey issues corporate income tax nexus guidance, adds various internet and financial activities to lists of protected and unprotected activities under P.L. 86-272. On Sept. 5, 2023, the New Jersey Division of Taxation (NJ DOT) issued guidance (TB-108) describing activities that will create nexus with New Jersey for Corporation Business Tax (CBT) purposes to reflect recent legislative changes (i.e., adoption of a bright-line economic nexus standard and, in the context of combined reporting, adoption of the Finnigan method to source New Jersey receipts). — Income/Franchise, Sales & Use, Business Incentives, Compliance & Reporting, Payroll & Employment Tax, Miscellaneous Tax, Value Added Tax, Upcoming Webcasts ————————————————————————— Revenue Procedures
Revenue Rulings
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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