While you're here, how about this:
New tax rules for real estate holding companies in Poland - Lexology
The Corporate Transparency Act: What You Need to Know Pending FinCen Regulations | Carlton Fields
In an effort to combat money laundering, tax fraud, and other similar financial crimes, Congress recently passed the Corporate Transparency Act (CTA) as part of the National Defense Authorization Act. The CTA requires certain private companies to report the information of their beneficial owners and controlling parties to the U.S. Treasury’s Financial Crimes Enforcement Network (FinCen).
Who Must Report . The CTA will require entities formed in the United States or foreign entities qualified to do business in the United States to identify and report certain information on their beneficial owners to FinCen. This information will include the name, business or residential address, date of birth, and a U.S. driver’s license or a U.S. or foreign passport number.
Biden's Labor Department Delays Gig Economy Rule And Seeks New Public Input | Fisher Phillips -
As we predicted, the Biden administration signed an order immediately after taking charge of the White House halting the advancement of the Department of Labor’s new independent contractor rule . Now for the next step: the Assistant to the President and Chief of Staff just published a memorandum titled, “Regulatory Freeze Pending Review,” proposing to postpone the rule by 60 days to allow the new administration to review it.
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As reported by The Wall Street Journal , regulatory freezes are commonly imposed by new and incoming presidential administrations. Usually, the freezes are imposed to allow the new leadership some time to review the proposal, open a new 30-day comment period, and consider pending petitions for reconsideration involving such rules. This is the case with this and other pending regulations.
And here's another article:
Maryland's Digital Advertising Tax Is Unworkably Vague
The Maryland Digital Advertising Tax, [1] on the verge of a veto override, remains a vague concept in search of definitions. Its legal and economic shortcomings have been documented extensively, but too little attention has been given to the legislation's maddening vagueness, and particularly—a year into this process—the foundational question of what transactions would be subject to the tax.
As a tax on digital, but not traditional, advertising, the proposal almost certainly runs afoul of the Permanent Internet Tax Freedom Act, a federal law which prohibits discriminatory taxes on electronic commerce. By setting rates based on the worldwide gross revenues of advertising platforms—economic activity that has nothing to do with Maryland—it may fail a Dormant Commerce Clause analysis under the U.S. Constitution.
Foreign Corporation's Tardiness Causes It to Forfeit Deductions
A U.K. corporation recently lost its right to claim any deductions or credits on its U.S. effectively connected income for the 2009 and 2010 tax years, because it failed to file income tax returns for those years until 2017. Robert Willens highlights the key points of the U.S. Tax Court decision.
Adams Challenge (UK) Ltd. must forfeit all deductions and credits on its U.S. tax returns, because it didn't file the returns until several years after the returns were due and the IRS had prepared a return for the corporation.
Tax Court Denies Research Credits for Research Activities | Miller Canfield - JDSupra
Tangel involved federal income tax credits for research expenditures under Treas. Reg. §1.41-4A(d). When a customer orders an item from a researcher, the regulation allocates the tax credits to the researcher or its customer depending on whether the agreement between them "funds" the research. If the agreement provides that the customer pays the researcher regardless of whether the research is successful, then the researcher is funded and not entitled to the tax credits.
Alternatively, if the agreement provides that the customer pays the researcher only if the research is successful, the researcher is not funded because the researcher bears the financial risk of unsuccessful research. In that case, the researcher gets the tax credits.
Sonoco Reports Fourth-Quarter and Full-Year 2020 Results NYSE:SON
HARTSVILLE, S.C., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON), one of the largest diversified global packaging companies, today reported financial results for its fourth quarter and full year, both ending December 31, 2020.
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Note: First-quarter and full-year 2021 GAAP guidance are not provided in this release due to the likely occurrence of one or more of the following, the timing and magnitude of which we are unable to reliably forecast: gains or losses on the sale of businesses or other assets, restructuring actions, asset impairment charges, acquisition/divestiture costs, certain income tax related events and other items. These items could have a significant impact on the Company's future GAAP financial
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