Proposed Regulations published by the Treasury Department last month provide helpful clarifications regarding the application of the excise tax under Section 4960 of the Internal Revenue Code of 1986, as amended (the “Code”). The content of the Proposed Regulations is generally consistent with the guidance provided early last year in the form of Notice 2019-09, and employers may rely upon the Proposed Regulations until final regulations are issued.
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As a reminder, Code Section 4960 was enacted as part of the Tax Cuts and Jobs Act of 2017 in order to address the asymmetrical treatment of tax-exempt employers and for profit employers with respect to the compensation of highly paid employees.
And here's another article:
An obscure court ruling could play havoc with tech companies' earnings - MarketWatch
With every company expected to talk about the impact of the COVID-19 pandemic on earnings in coming weeks, look out for a completely unrelated issue that could cost technology companies billions of dollars in cash or write-offs.
The U.S. Supreme Court in late June declined to hear a case filed by chip maker Altera Corp ., now owned by Intel Corp. INTC, +1.45% , that sought to challenge a ruling upholding U.S. tax regulations that define how companies can split costs with foreign units.
Virginia Sports Betting To Exclude Wagers On In-State Colegiat Teams Per Regulations Proposal
RICHMOND, VA - FEBRUARY 09: The Virginia State flag and the American flag fly near the Virginia ... [+] State Capitol, February 9, 2019 in Richmond, Virginia. Virginia state politics are in a state of upheaval, with Governor Ralph Northam, State Attorney General Mark Herring, both Democrats, and Republican Senate Majority Leader Tommy Norment involved with past uses associations with blackface and Lt. Governor Justin Fairfax, a Democrat, accused of sexual misconduct by two women.
Virginia continued its push to approve the state's sports betting regulations Wednesday in a meeting that saw advocates formally present guidelines. While the Virginia State Lottery will ultimately oversee the industry, the proposed structure more closely resembles those seen in states where gaming commissions call the shots.
Candidate Q&A: State House District 15 — Steve Yoder
Editor's note : For Hawaii's Aug. 8 Primary Election, Civil Beat asked candidates to answer some questions about where they stand on various issues and what their priorities will be if elected.
The following came from Steve Yode, Republican candidate for state House District 15, which includes Wailua Homesteads, Hanamaulu, Lihue, Puhi, Old Koloa Town and Omao.
Go to Civil Beat's Elections Guide for general information, and check out other candidates on the Primary Election Ballot .
Quite a lot has been going on:
Elizabeth Warren as Treasury secretary would be a 'mistake,' Barney Frank says -
Joe Biden should not pick Elizabeth Warren to be his Treasury secretary if he wins the White House, former Democratic Congressman Barney Frank told CNN Business.
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Warren, a darling of the left and a fierce critic of big banks , is the "favorite" to become America's first woman Treasury secretary in a potential Biden administration , analysts at Cowen Washington Research Group told clients in a report last month.
But Frank, who worked with the Massachusetts Senator on the sweeping Dodd-Frank financial reform law that turns 10 years old this week, cautioned against a Secretary Warren because of how reviled she is on Wall Street.
Tax The Suburbs For Segregation | New Haven Independent
Connecticut is one of the most racially segregated states in the country, both geographically and economically. Unlike most states, property taxes fund almost all our local costs – particularly our schools. That means that towns with greater poverty must raise their taxes to extraordinary rates to cover basic services, and that vast educational inequities, even in neighboring towns, go unaddressed.
A town like Darien, one of the wealthiest places in the country with one of the best school systems, is next door to two Alliance districts – schools determined by the state to be the most in need. While thousands of residents from every corner of our state have rightly spent weeks protesting racial injustice and inequity, we continue to be one of the worst perpetrators of the very cycle we hope to dismantle.
Gas stations obliged to pay VAT - Tehran Times
TEHRAN – Iranian National Tax Administration (INTA), in its latest revision of the country's tax regulations, has obliged fuel station owners to conform to the Value-Added Tax (VAT) regulations, IRNA reported on Sunday.
According to Mohammad Masihi, INTA's deputy for tax incomes, all fuel stations (both oil and gas products) with any volume of sales or income from products and services are called on to abide by the VAT regulations as of the beginning of the current Iranian calendar year 1399 (March 20).
Wolters Kluwer Tax Talks Podcasts Help Tax and Accounting Professionals Navigate Legislative and
"We started the Tax Talks podcast series a few months ago in conjunction with our #ForwardTogether program to give professionals a regular platform where they can hear from experts and get information that's actionable and can be applied immediately," said Jim McGinnis, Executive Vice President and General Manager of Medium and Large Firm Segment at Wolters Kluwer Tax & Accounting North America.
These four podcasts are already available and the series will continue through the remainder of the year and beyond.
Happening on Twitter
I support Sen Merkley's proposed bill to deal with the despicable federal actions in Portland by 1—Requiring fed a… https://t.co/UQiwX814yY SenSchumer (from New York, NY) Sat Jul 18 23:16:14 +0000 2020
Trump's proposed payroll tax cut would do nothing for the 30 million who lost jobs during the pandemic while taking… https://t.co/Bo2HfmrPnB SenSanders (from Vermont/DC) Sun Jul 19 21:59:08 +0000 2020
Senate Democrats have officially proposed $350 Billion in reparations to black people to address systemic racism. S… https://t.co/pecQaXRfB2 ErrolWebber (from Los Angeles, CA) Sun Jul 19 14:23:00 +0000 2020
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