— President Donald Trump's tax returns look less likely to get a public viewing before November's presidential election following two Supreme Court rulings.
— France's digital services tax has prompted U.S. officials to move toward announcing sanctions on that country, but they won't yet start enforcing the measures.
— New international tax rules were finalized in a way that should generally prove positive for businesses.
Quite a lot has been going on:
Readers React: Increase tax on Pennsylvania fireworks - The Morning Call
Regarding Sen. Pat Browne's proposal to turn the regulation of fireworks over to the cities: It seems just his way of "passing the buck." The commonwealth made this mess; it is their responsibility to correct it.
Also, any regulation is only valid if it is enforceable, which we have seen that it is not. Therefore, I propose the following:
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The aforementioned may not only reduce the frequency, duration and intensity of fireworks, but it will also give needed revenue to schools and cities.
5 Federal Tax Cases To Watch In The 2nd Half Of 2020 - Law360
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U.K. Regulatory Developments: June 2020
The regulator monthly update on UK regulation relating to securities laws, is provided by Emma Radmore, Legal Director, Womble Bond Dickinson (UK) LLP, and covers UK regulatory developments during June 2020.
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The FCA has confirmed that it will not extend the temporary general expectation in relation to overdraft costs. In April, they asked firms to temporarily ensure all overdraft customers were no worse off on price when compared to the prices they were charged before the recent overdraft rule changes came into force.
And here's another article:
Building An Expat Empire: One Tax Practitioner's Story
For those who haven't yet had a chance to read the piece or are just becoming acquainted with you, I'm hoping that you can tell us a little about your international career journey, the countries in which you have worked, and the roles that you have held over the years.
Virginia La Torre Jeker: Sure. It goes way back to 1983, when I started my tax law career with Willkie Farr & Gallagher LLP in New York City. A scant two years later, I met the man who would later become my husband. Tony was a Swiss national, and we met literally six weeks before he was scheduled to return to Europe. He had been on a short work program in the U.S. with one of the Swiss banks and we fell madly in love. We decided we wanted to get married.
Trump: Colleges that don't reopen imperil tax status
President Donald Trump ordered the Treasury Department on Friday to review the tax-exempt status of colleges and universities, following his threats to cut federal funding to schools that do not reopen due to the coronavirus pandemic.
In a pair of tweets, Trump accused institutions of higher education of focusing on "Radical Left Indoctrination" rather than educating their students.
The president's attack on colleges and universities comes as they're struggling with how to handle the fall semester due to the virus, which has dealt a financial blow to many.
Tax deadline approaching | Local News | newspressnow.com
Final IRS Regulations for RICs to Passthrough REIT Dividends Eligible for 20% Deduction | Dechert
The U.S Department of the Treasury and the Internal Revenue Service on June 24, 2020 issued final tax regulations ("Final Regulations") that permit a regulated investment company (“RIC”) to report to its shareholders the portion of the RIC’s dividends paid that constitutes dividend income from real estate investment trusts (REITs). Such shareholders will be entitled to a special 20% deduction against such dividend income.
Section 199A, enacted as part of the 2017 Tax Cuts and Jobs Act, allows individuals and certain estates or trusts a 20% deduction with respect to certain income. This 20% deduction is available to eligible taxpayers with "qualified business income" earned from qualified trades or businesses operated as sole proprietorships or through partnerships, S corporations, trusts or estates, in addition to qualified REIT dividends and income from publicly-traded partnerships (“PTPs”).
Happening on Twitter
In a landmark letter, my attorney, the illustrious @kaplanrobbie tells Judge Verna L Saunders that because of the S… https://t.co/4ATiZlc5Kl ejeancarroll Fri Jul 10 17:35:17 +0000 2020
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