October 20, 2023 U.S. Tax This Week for October 20 Ernst & Young's U.S. Tax This Week newsletter for the week ending October 20 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.
————————————————————————— TradeFlash | October 2023 ————————————————————————— US corporate income tax compliance: Insights from Tax Year 2022 and considerations for the future (October 25) Crypto and digital asset information reporting: Navigating the operational challenges of the recently proposed regulations (November 1) Realizing the full potential of your tax and finance function: Insights and leading practices for financial services institutions (November 7) ————————————————————————— Internal Revenue Service — Oct 19: IRS releases details on claiming IRC Section 45L credit for new energy-efficient homes (Tax Alert 2023-1741) — Oct 17: IRS has been informing taxpayers of Schedule UTP non-compliance (Tax Alert 2023-1731) — Oct 16: IRS appeals Tax Court's latest decision in Medtronic (Tax Alert 2023-1727) — Oct 16: IRS releases guidance on transferring clean vehicle credits (Tax Alert 2023-1723) — Oct 16: TIGTA releases audit report on TE/GE customer service with recommendations (Tax Alert 2023-1722) — Oct 16: Senate committee report on non-profit hospitals recommends minimum requirements for meeting community benefit standard (Tax Alert 2023-1721) International — Oct 19: Polish Ministry of Finance issues draft explanations illuminating Beneficial Owner concept (Tax Alert 2023-1746) — Oct 19: Italian draft ministerial decree provides implementation rules for Investment Management Exemption regime (Tax Alert 2023-1745) — Oct 19: Brazil publishes Normative Instruction to regulate the new Brazilian transfer pricing system (Tax Alert 2023-1744) — Oct 19: Israel travel and mobility update provided (Tax Alert 2023-1743) — Oct 18: ECOFIN adopts revised list of non-cooperative jurisdictions for tax purposes (Tax Alert 2023-1739) — Oct 18: The Latest on BEPS and Beyond | October 2023 edition (Tax Alert 2023-1738) — Oct 18: Costa Rica implements new visa requirement for nationals of Honduras (Tax Alert 2023-1736) — Oct 18: South Africa opens applications for the Trusted Employers Scheme pilot program (Tax Alert 2023-1734) — Oct 17: Netherlands Proposal to align legal entity and partnership classification rules with international tax standards, including earlier look-through rule (Tax Alert 2023-1733) — Oct 17: Panamanian Tax Authority further extends deadline for resident agents to file affidavit on accounting records of offshore entities (Tax Alert 2023-1732) — Oct 17: Costa Rica removed from EU's 'blacklist' of non-cooperative jurisdictions for tax purposes (Tax Alert 2023-1730) — Oct 17: Bermuda's proposed corporate income tax takes shape with release of second public consultation (Tax Alert 2023-1728) — Oct 16: Cyprus tax authorities issue clarification note regarding Bilateral Agreement with the United States (Tax Alert 2023-1726) — Oct 16: Norway publishes fiscal budget for 2024 (Tax Alert 2023-1725) — Oct 16: Panama enacts law creating transitory tax-recovery measures and abbreviated audit procedures (Tax Alert 2023-1724) — Oct 16: EU | Compliance obligations for EU CBAM (Tax Alert 2023-1719) — Oct 16: UK visa application center temporarily closed in Tel Aviv, Israel (Tax Alert 2023-1718) — Oct 13: Ireland announces Budget 2024 (Tax Alert 2023-1713) — Oct 13: Indonesia's new regulations impacting business visitors to go into effect by 23 October 2023 (Tax Alert 2023-1712) — Oct 13: Mexico offers tax incentives to taxpayers in key sectors of the export industry (Tax Alert 2023-1711) — Oct 13: Rwanda gazettes amendments to the Income Tax Law, changing certain reporting requirements and the corporate rate (Tax Alert 2023-1710) — Oct 13: Rwanda gazettes new law on Value Added Tax (Tax Alert 2023-1709) — Oct 13: Mexico implements new visa requirement for transit purposes (Tax Alert 2023-1707) — Oct 13: South Africa updates the Critical Skills List and Critical Skills Work Visa framework (Tax Alert 2023-1705) Legislation — Oct 18: What to expect in Washington (October 18) (Tax Alert 2023-1735) States — Oct 18: New dollar amount for PCORI fee calculation is $3.22 per covered life (Tax Alert 2023-1740) — Oct 18: Colorado requires employee annual notice of earned income tax and other federal and state tax credits (Tax Alert 2023-1737) — Oct 17: Elizabethtown, Kentucky passes ordinance to increase its Occupational License Tax starting in 2024 (Tax Alert 2023-1729) ————————————————————————— Final Regulations
Proposed Regulations
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. | |||||||||||||||||||||||||||||||||||||