As employers look forward to a new year, there will undoubtedly be lingering and prevalent effects from 2020.
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The Consolidated Appropriations Act of 2021 did not continue much retirement-related relief into the new year.
Employers and employees should be fully aware of the pitfalls of virtual meetings, but here's a hilarious reminder to check your settings.
Rising costs are putting enormous pressure on benefits professionals. But simple strategies can help you achieve more with less.
Not to change the topic here:
Novato advances new rules for vacation rentals
Novato vacation rentals listed on sites such as Airbnb and Vrbo will soon need to meet more stringent standards and pay taxes similar to those on hotels under a new ordinance.
The new regulations, approved in a first reading this month by the City Council, require vacation rental owners to obtain a business license. They will also have to provide adequate parking, enforce guest occupancy limitations and give advanced notice to neighbors when their homes are rented.
TOM PURCELL: Simpler taxes long promised, never delivered | News | henryherald.com
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WEEKEND INSIGHTS: Worldwide Interest Apportionment and Sales Tax
Tax code Section 864(f) was intended to create an incentive for U.S.-based multinational groups to restructure their debt arrangements so that group members assume proportionate shares of the global group debt. The pending economic relief legislation would repeal this provision with the stated intent of raising tax revenue. Ian Ross of Illinois Tool Works Inc. says the provision should ideally be retained, because it increases focus on economic substance.
2021 will likely bring new sales tax policies, expanded obligations for taxpayers, and expanded enforcement. Liz Armbruester of Avalara looks at what to expect from legislatures and tax authorities as states struggle to balance their budgets in the wake of the pandemic. Read: The State of Sales Tax in 2021
While you're here, how about this:
IRS gets set for Friday's delayed start to tax season | Accounting Today
The Internal Revenue Service is girding for the official start of tax season Friday as taxpayers and preparers deal with tax breaks related to COVID-19 and questions about stimulus payments.
The IRS pushed back the traditional late January start to tax season as it continues to deal with distributing the latest round of Economic Impact Payments and implementing tax regulations stemming from the CARES Act and other relief packages passed by Congress last year.
"We will start accepting tax year 2020, individual tax returns, tomorrow," said IRS Wage and Investment Division Commissioner Ken Corbin during a press conference Thursday. "That's Friday, Feb. 12. And we are ready this year. We expect to process more than 160 million individual tax returns. We know taxpayers rely on us for the information and help they may need to meet their tax obligation."
Law in the Marketplace: Inside the uncertain I&D Tax
Although New Hampshire boasts that, unlike most other states, it imposes no state income tax on its residents, it does impose an income tax on New Hampshire business owners, and it's a significant one – namely, the New Hampshire Interest and Dividends Tax (the "I&D Tax").
With exceptions noted below, this tax applies at a rate of 5% to interest and dividends received by New Hampshire residents from corporations, LLCs and other entities with "transferable shares" – a term I'll also explain below. There are currently about 55,000 New Hampshire residents who are the owners of single-member LLCs. The question I want to address in this column is whether these individuals are subject to the I&D Tax.
Why SPAC-ships remain UFOs in India but should not
Taxation tweaks would help special purpose acquisition companies give startups easy access to capital
Italy amends regulation of advance rulings | International Tax Review
Happening on Twitter
Former CDC Dir. Tom Frieden on falling Covid-19 cases in the US: "I don't think the vaccine is having much of an im… https://t.co/AC8fpqKiTU CNN Sun Feb 14 18:50:51 +0000 2021
"The bottom line is that this pandemic has made an issue that was already bad, unbearable. 'It's a national crisis… https://t.co/pfX8q3nmuk AliciaOnMSNBC (from New York City) Mon Feb 15 01:15:11 +0000 2021
Throughout the COVID-19 crisis, about 4 in 10 adults have reported symptoms of anxiety and/or depressive disorder –… https://t.co/J9AvpjhPVS KFF (from San Francisco, CA | Washington DC) Mon Feb 15 14:14:02 +0000 2021
The @SEC has announced that LSU men's basketball will play at Ole Miss at 9 p.m. ET on Wednesday, February 17, as a… https://t.co/EAo5lNJrP6 SEC (from Birmingham, Ala.) Sun Feb 14 19:00:15 +0000 2021
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