While digital assets, or more precisely, cryptocurrency, have made certain transactions simpler, they have complicated the estate planning process. Clients who have acquired such assets must incorporate them into their estate planning documents or risk losing them forever.
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The issues in the case prompted two schools of thought on how to deal with ambiguity in the 2011 amendment to the tax code.
While you're here, how about this:
Financial, tax relief proposed for Pennsylvania small businesses | State | wfmz.com
Sen. Kristin Phillips-Hill, R-Jacobus, and Sen. Ryan Aument, R-Lititz, discuss the Prioritize PA plan for small businesses at a news conference in Lancaster County.
(The Center Square) – A group of Republican senators said this week the state of Pennsylvania should deliver more financial and tax relief to small businesses struggling amid the pandemic.
The Prioritize PA: Small Business Initiative, a package of five bills, does just that, says co-sponsoring Sens. Ryan Aument, R-Lititz; Camera Bartolotta, R-Washington; Judy Ward, R-Hollidaysburg; and Kristin Phillips-Hill, R-Jacobus.
Final US FDII rules ease impractical documentation demands on taxpayers | International Tax Review
APRA Extensions, Tax Credit Changes, and Deduction Provisions
The American Rescue Plan Act of 2021 expands upon some popular tax credit provisions and makes other changes to a key tax provision regarding compensation deduction limitations. These changes are summarized below.
Covered employers are not required to provide PSL or PFL in 2021; however, employers who choose to do so will be eligible for tax credits on wages paid for such leave, subject to certain limitations.
The Act expands the types of leave that qualify for tax credits between April 1, 2021, and September 30, 2021. PSL and PFL now include leave provided to an employee to obtain a COVID-19 vaccine, recover from injury, disability, illness, or condition related to a COVID-19 vaccine or to await COVID-19 test results or diagnosis due to exposure or employer request. The Act also expands other reasons PFL can be provided for tax credit purposes.
Other things to check out:
Maryland Breaks Ground with Digital Advertising Tax | Sheppard Mullin Richter & Hampton LLP -
The Maryland tax also reflects the collision of two economic forces magnified by the pandemic: While cities and states have seen their tax revenues plummet as the need for government-provided social services has skyrocketed, the tech giants have reaped landmark profits as social distancing has pushed work, leisure activities and commerce to online platforms in levels never before seen.
The tax applies to annual gross revenues derived by large firms from digital advertising services in the state. Excluded from the tax are entities with less than $100 million in global annual gross revenue. From there, the tax rate increases based on the global annual gross revenues of the entity:
New Federal Stimulus Legislation Extends FFCRA Tax Credits Through September 30, 2021 | Laner
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
41-State Data Breach Settlement | Additional CCPA Regulations | Suit Over Patient Discharge
Debt Collector Reaches Settlement Over Data Breach Exposing Personal Information of Up to 21 Million Consumers
Additional CCPA-Related Regulations Strengthen Consumers’ Ability to Control the Sale of Their Personal Information
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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
Sanders proposes tax for 'absurd' CEO pay as Dems target income inequality | KFDM
Happening on Twitter
For those who collected unemployment and already filed a 2020 tax return: Do *not* file an amended return to claim… https://t.co/235vrT6D7N tarasbernard (from New York) Sat Mar 13 13:22:53 +0000 2021
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