On September 29, 2020, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued final foreign tax credit regulations (the "2020 Final Regulations") that include the allocation and apportionment of: (1) stewardship expenses; and (2) research and experimentation (R&E) expenses. The 2020 Final Regulations come after the Treasury and IRS issued proposed regulations (the "2019 Proposed Regulations") on December 17, 2019.
In response to comments, the Treasury and IRS made two important changes in the 2020 Final Regulations regarding stewardship expenses. First, the 2020 Final Regulations turn off the affiliated group rules for stewardship expenses. Thus, a taxpayer treats its US affiliates as separate entities in allocating and apportioning its stewardship expenses.
In case you are keeping track:
Bloomberg expands international tax coverage | Accounting Today
Bloomberg Tax & Accounting has expanded its coverage of international tax research to more than 220 countries, with analysis of corporate taxation, value-added taxes and international withholding taxes, along with the changes brought about by the COVID-19 pandemic.
The company offers a VAT Navigator that covers value-added taxes, goods and services taxes, and sales tax laws and practices on a country-by-country basis, with 75 different compliance topics.
CalCPA Takes CPAs On Comprehensive "Tax Journey" To Help Navigate Complexity Of
"The upcoming tax season is sure to be more complex than prior years due to factors like the pandemic, stimulus packages, destruction from the wildfires and changing regulations," said Brad Monterio , Chief Learning Officer of CalCPA.
CalCPA's tax journey begins with its in-demand Ultimate Tax Guide featuring its tax curriculum and key programs along the path. Forthcoming programs include:
"I'm excited to launch the next season of Titans of Tax tour during CalCPA's November LearningPlus+ event because of all the changes we've seen in taxation this year," said Annette Nellen , CPA, CGMA, Esq., Professor/Director of the MST Program, San Jose State University , and CalCPA Faculty Member.
Broomfield attorneys ask for time to set up marijuana regulations – Broomfield Enterprise
Broomfield is expected to extend a marijuana ban on retail, cultivation and manufacturing — at least a few more months.
At a Tuesday night study session city council directed the city and county attorney’s office to extend the existing moratorium to April 1, a move which city officials said will be give them time to put together a regulatory framework.
On Sept. 13, 2016, council approved an ordinance prohibiting marijuana business including cultivation, manufacturing and retail stores until Feb. 1, 2021.
Other things to check out:
When Down the Hall Becomes Across State Lines—Part 1
Tax Management Market to reach US $32 billion by 2025 - Global Insights on Key Trends, Growth
Dallas, Texas, Oct.
CCC, DOR working through marijuana delivery taxation issues | News | salemnews.com
As they approach a final vote next week on their third write-through of marijuana regulations in as many years, regulators on the Cannabis Control Commission are working with the Department of Revenue to figure out just how taxation of marijuana deliveries will work.
When it agreed to a set of policies Tuesday that would create two different delivery licenses — one that would function simply as a courier between a particular retailer and customers, and another that would allow a "delivery operator" to buy products wholesale and sell them to their own customers — the CCC had to clarify that both types of delivery businesses must collect and remit taxes to the state.
Betsy DeVos, in anti-government polemic, says America's public schools are designed to replace
In 2015, Michigan billionaire Betsy DeVos declared that " government really sucks " — and after serving nearly four years as U.S. education secretary, she has not tempered that view one iota. She gave a speech this week at a Christian college disparaging the U.S. public education system, saying it is set up to replace the home and family.
While blasting the government is nothing new for DeVos — critics see her as the most ideological and anti-public-education secretary in the Education Department's 40-plus-year history — she gave what may be her fiercest anti-government polemic at the Hillsdale College event in her home state Monday.
Happening on Twitter
Last month the US Treasury Office of Foreign Assets Control "designated four Russia-linked individuals for attempti… https://t.co/y10n1PoThe jaketapper Wed Oct 14 14:35:26 +0000 2020
Today, @USTreasury took action against a financial facilitator of al-Qa'ida to cut them off from the global financi… https://t.co/fFTBMqfhSp stevenmnuchin1 (from Washington, DC) Mon Oct 19 19:27:01 +0000 2020
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