Saturday, June 27, 2020

Looking Ahead in Taxes | New York Law Journal

In their Environmental Law column, Karen Meara and Christopher Rizzo explain that environmental advocates and lawmakers have an opportunity to glean some important lessons from the pandemic before they are lost to our rapidly changing news cycle.

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In a highly anticipated decision, the U.S. Supreme Court on Monday in Liu v. S.E.C. No. 18-1501 (2020), took steps to limit the SEC's aggressive use of disgorgement of ill-gotten gains in litigated cases, but did not, as some had hoped, do away with this powerful remedy in litigated actions entirely.

Publisher: New York Law Journal
Date: 2020-06-26
Author: Sidney Kess
Twitter: @NYLawJournal
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Quite a lot has been going on:

Bill sent to Whitmer allows for deferral of summer taxes

LANSING, Mich. (AP) - People and businesses affected by the coronavirus pandemic or dam flooding could wait to pay their summer property taxes until 2021 without being penalized under legislation sent to Michigan's governor.

A related bill would require the state to provide short-term financing to local governments facing revenue shortfalls due to the later tax payments.

The measures were among several approved in the Legislature Wednesday and Thursday, as lawmakers moved bills to Gov. Gretchen Whitmer or took initial action on others before breaking until later in the summer.

Date: 9CD4A96D8A076527F07FD24CFCDE5489
Author: Associated Press
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Taxpayers who wait to file their taxes this year can get interest on top of their refund

'Qualified immunity gives government officials a rubber stamp to violate your rights ,' said Robert McNamara, a senior attorney at the Institute for Justice.

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The state legislature advanced a measure that will put the state's ban on affirmative action on the ballot.

Big banks this summer are testing out new safety protocols to slowly return staff to their Manhattan offices during the pandemic, but it will be a long road back to anything near 'normal.'

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Publisher: MarketWatch
Date: 2020-06-26T16:40:00-04:00
Author: Elisabeth Buchwald
Twitter: @marketwatch
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Bethel Park school board's budget calls for increase in taxes | Pittsburgh Post-Gazette
Publisher: Pittsburgh Post-Gazette
Twitter: @PittsburghPG
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And here's another article:

Editorial: Stop deceiving Bay Area voters on local tax measure costs

As Bay Area cities, counties and school districts struggle with painful budget cuts connected to the coronavirus economic downturn, many are considering asking voters in the Nov. 3 election to raise taxes.

The increases might be appropriate. What isn’t acceptable is ballot deception or fiscal recklessness. Voters deserve full transparency about the cost and context of tax increases they are being asked to pay.

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Publisher: The Mercury News
Date: 2020-06-26T12:10:10 00:00
Twitter: @mercnews
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Montana Recreational Marijuana Legalization and Taxes | Tax Foundation

Montana is one state that could legalize sooner rather than later as campaigners for a ballot initiative (I-190) have collected the required signatures for the initiative likely to be on the ballot in November.

The impetus for the Montana initiative seems related more to decriminalization than revenue generation. This is evident by the proposed excise tax rate at 20 percent on the value of marijuana sales. While 20 percent is comparatively low nationwide, taxing by price ( ad valorem ) can prove problematic.

Publisher: Tax Foundation
Date: 2020-06-26T15:27:31-04:00
Twitter: @taxfoundation
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Burlington council raises utility taxes | Local News | goskagit.com
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Publisher: goSkagit
Author: By BRANDON STONE Brandon_SVH
Twitter: @goskagit
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Second Tax Season Delay Could Spark Confusion, Messaging Mess (2)

Recent talk from the Trump administration about potentially extending the upcoming July 15 tax season deadlines is bringing out a wider range of viewpoints and less agreement than before the first delay was announced.

IRS and Treasury in March pushed back the April deadlines for filing and paying 2019 taxes to July 15 to accommodate taxpayers during the Covid-19 pandemic . The administration originally sought to delay just the deadline for individuals and businesses to pay their taxes, but ultimately moved the filing date as well after pressure from outside groups, including those representing tax professionals, and lawmakers.

Twitter: @tax
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