The American Petroleum Institute, the oil and gas industry's top lobbying arm, is edging closer to endorsing a carbon tax, a tool that would make fossil fuels more expensive, boost prospects for renewable and nuclear energy, and curb pollution that is driving climate change .
Coming up with the right language is key for API's nearly 600 members at a time when President Biden wants urgent action in the fight against climate change. His administration is looking at measures that would slash fuel consumption, clamp down on methane emissions, make buildings more efficient, and limit drilling on federal lands.
Many things are taking place:
2021 Child Tax Credit: Which Divorced Parent Gets It? | High Swartz LLP - JDSupra
Before 2018, listing a dependent child on the federal tax return meant a per person exemption resulting in paying less federal taxes. From 2018 to 2025 the dependency exemption is suspended. For now, the issue of child dependency is still relevant but more complicated.
Let’s begin with a scenario: a married couple with two minor children separate in April 2020, and are now getting ready to file 2020 income taxes and plan to file separately. They don’t know who gets the child tax credit and other benefits when both of the children are dependents. Is it fair for each to take one dependent child? Does the splitting of dependents save the most in taxes?
Kelly Erb Joins Bloomberg Industry Group To Lead Tax News Team's Contributed Content Efforts
"Bloomberg Tax is known for its great tax coverage," said Erb. "But we want our reader and customer experience to go beyond reading our great content."
About Bloomberg Industry Group
Bloomberg Industry Group empowers professionals in government, law, tax & accounting, and environment with expertise, industry knowledge, content, and technology, enabling them to take decisive action and make the most of every opportunity. Bloomberg Industry Group is an affiliate of Bloomberg L.P. For more information, visit bloombergindustry.com.
Puerto Rico & Act 60: Can You Avoid US Tax? - Lexology
And here's another article:
The Triple Threat Facing Generalist Law Firms, Part 3: The Big Four | Firesign | Enlightened
Like any good horror movie villain, it’s shrouded in mystery. We don’t know when it’s coming, or exactly what will go down, but we know that a four-headed monster of Deloitte, EY, KPMG and PwC is coming after all of the legal work. And it might get really gory.
This is not the forum to unpack the web of ethics rules that currently prohibit accounting firms from practicing U.S. law. (Although it’s worth noting that as of January, Arizona allows nonlawyers to co-own law firms and legal service operations, theoretically paving a possibility for the Big Four to set up shop. Similar measures are reportedly under consideration in Utah, California and elsewhere.)
Three Tax Principles that HR Professionals Should Know | Dickinson Wright - JDSupra
Although it might not be obvious, tax law permeates most HR responsibilities – from paying an employee, to arranging for benefit coverages, to settling employment lawsuits, and paying pensions. Knowing a few key tax principles may help employers understand why things are done in a certain way, what questions to ask when discussing possible solutions to a problem, and how to avoid unpleasant surprises. Three key principles are as follows:
As mentioned above, this principle also applies to former employees. For example, a for-profit employer was considering replacing its retiree health care coverage with cash payments that retirees could use to purchase medical insurance. Currently, the retirees do not include in income the value of the employer provided coverage. Employer-paid premiums for health care coverage, even coverage for retirees, are exempt from federal income tax pursuant to Code §106.
Garfield County to further study economic impacts of SB181 regulations | PostIndependent.com
Garfield County commissioners want to get a better sense of the local economic impacts of the state's new oil and gas regulations that came as a result of the 2019 passage of Senate Bill 181.
Commissioners on Monday unanimously agreed to spend $65,000 from the county's oil and gas mitigation fund on a study to assess the short- and long-term impacts.
The initial expense will go to fund a one-year study of impacts ranging from job losses and impacts to industry support business to losses in tax revenues for local government entities, including school districts.
IRS Issues Final Section 162(m) Regulations On Companies' Ability To Deduct Executive Pay |
The Internal Revenue Service (IRS) recently published final regulations implementing changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) to Section 162(m) of the Internal Revenue Code (Section 162(m)) expanding the scope of Section 162(m)’s compensation tax deduction limitation. Publicly held companies that already exceed or that may soon exceed the Section 162(m) $1 million deduction limit will need to carefully consider the impact of amended Section 162(m).
Happening on Twitter
American Petroleum Institute poised to embrace putting a price on carbon emissions as a policy that would "lead to… https://t.co/Cvj1NEL7qb ChadBown (from Washington, DC) Tue Mar 02 01:24:05 +0000 2021
This is a pretty incredible turnaround for the American Petroleum Institute. Another indication that the business c… https://t.co/OETFEvZ1BD citizensclimate (from Nationwide) Tue Mar 02 22:33:45 +0000 2021
The American Petroleum Institute, the oil industry's lobby group, is considering supporting carbon pricing as a ste… https://t.co/HmjB6UOkjn paulwsj (from Washington, DC) Mon Mar 01 23:43:33 +0000 2021
The American Petroleum Institute is considering backing a U.S. government-imposed price on carbon dioxide emissions… https://t.co/rt4Q4A9Vpj business (from New York and the World) Tue Mar 02 12:04:01 +0000 2021
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