Chilean companies will soon have to begin issuing electronic receipts and sending them to the tax authority within one hour, according to new regulations.
The new requirement, codified in regulations released by the tax authority on Thursday, aims to encourage digitalization of the tax system and improve compliance with Chile's 19% value-added tax on goods and services. The government estimates the measure will raise an additional $934 million annually from 2025.
Many things are taking place:
IRS Proposes Consolidating Section 1031 Like-Kind Rules | Millionacres
The IRS proposed Section 1031 changes last month that add rules around like-kind property held for business, trade, or investment purposes. Currently, those definitions must come from elsewhere in the tax code.
Along with defining real property, the new rules lay out how certain receipts of personal property incidental to the real property received should be treated by the tax code.
Robert Kiggins, the tax chair for Culhane Meadows in New York, provides some context about the proposed changes to help inform Millionacres readers who may want to offer their opinion to the regulator or would just like to be informed about what to expect.
New state laws hike marriage age, raise gas tax | News | pdclarion.com
INDIANAPOLIS — Using a handheld cellphone while driving will become illegal on Indiana roads under a new state law taking effect this week.
The move aimed at combating distracted driving was among numerous laws going onto the books today after being approved by the state Legislature this year.
Other new laws include tougher penalties on stores for selling smoking or vaping products to anyone younger than 21 years, and a requirement that anyone younger than 18 obtain a judge's permission before getting married.
IRS Provides Tax Relief for the Low-income Housing Credit and Bonds for Qualified Residential
For certain time-sensitive actions scheduled to be performed and requirements to be met on or after April 1, 2020, and before December 31, 2020, owners and operators now have until December 31, 2020 to perform the actions and satisfy the requirements.
Further, between April 1, 2020, and December 31, 2020, owners of qualified low-income housing projects are not required to perform certain income recertifications or reduce the eligible basis in a building because of the temporary closure of an amenity or common area due to the COVID-19 pandemic, and state agencies that have jurisdiction over the projects are not required to conduct compliance-monitoring.
And here's another article:
House Democrats Unveil Proposal to Frame Climate Legislation in 2021 | Akin Gump Strauss Hauer &
Following a nearly 18-month development process dating back to the early days of the current Congress, House Democrats have released the most comprehensive plan to address climate change in our nation’s history.
Much of the legislation proposed in the Plan likely would require Democratic majorities in both Houses of Congress to come to fruition, as House Republicans already have expressed varying degrees of opposition to the Plan, citing an alleged lack of transparency in the committee process, expressing support for the oil and gas industry, and noting that the vast majority of global air emissions originate outside of U.S. borders.
David Abrams' lawsuit against the New Israel Fund could make it easier to target nonprofits.
Abrams sued the group in 2019 under the New York False Claims Act, alleging that the New Israel Fund has violated its tax-exempt 501(c)(3) status because some grantees engage in "electioneering." The U.S. tax code does prohibit 501(c)(3) organizations from engaging in some forms of political activism, but grants the IRS authority to police those activities. Abrams brought his suit as a so-called qui tam action , in which a private party may bring an action on the government's behalf.
The NIF lawsuit shows Abrams is trying a new and dangerous tactic. Last Friday, the American Civil Liberties Union joined the New Israel Fund's legal defense team in moving to dismiss Abrams' lawsuit.
TAX VIRUS BRIEFING: Small-Time Fireworks a Win for State Coffers
In honor of the Fourth of July, we look at how states gain tax dollars as neighborhoods resound with backyard fireworks. At the IRS, staff is searching for people who should get relief checks, and is making progress on backlogs. More items appear on the list of aid sought in the next relief bill. And EU countries may not succeed in trying to block aid to companies that send money to tax havens.
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It seems that quarantine-weary Americans have been turning in extraordinary numbers to backyard fireworks, maybe anticipating this weekend's absence of big community displays.
New Laws Take Effect in DC, Maryland and Virginia July 1 – NBC4 Washington
News4’s Juliana Valencia explains how new laws, including minimum wage increases, could affect residents.
New laws taking effect in D.C., Maryland and Virginia on July 1 could change how much you get paid, how you drive, how employers and police act and more.
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Eligible workers include those who spend at least 50% of their time working in D.C., including through teleworking, in the previous year. Leave can be taken for the birth, adoption or foster care placement of a child. Health conditions include physical and mental illnesses that require in-patient care or continuing treatment. The maximum weekly benefit amount is $1,000.
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