The Ernst & Young ITTS Washington Dispatch brings you a monthly review of US international tax-related developments.
The Ernst & Young ITTS Washington Dispatch brings you a monthly review of US international tax-related developments. In this edition:
US Congress returns amid speculation over limited budget reconciliation – Senate proposal would disallow FTCs, other US tax benefits connected with operations in Russia or Belarus – IRS issues annual APA report for 2021 – New Schedules K-2 and K-3 FAQs released – OECD holds public consultation on Implementation Framework for Pillar Two GloBE Rules – OECD releases public consultation document on draft rules re scope under Amount A for BEPS Pillar One – OECD releases public consultation document on Extractives Exclusion under Amount A for Pillar One – OECD releases peer review reports on dispute resolution – OECD releases fourth annual peer review report on BEPS Action 6 on prevention of treaty abuse.
Federal Tax Update Podcast Series
This week we look at:
- Special rules under IRC §104 for military disability and retirement income
- Expenses claimed as management fees treated as distributions to owners
- Proposed regulations to limit use of certain techniques for use of anti-clawback rules
- It’s going to be a longer than expected wait to file K-2/K-3 for S corporations via MeF
Copyright 2022, Kaplan, Inc.
Talking Tax, from Bloomberg Tax, is a weekly discussion of the most pressing issues facing tax and accounting professionals. Each week the podcast features discussions with lawmakers, federal regulators, lawyers, and journalists. From the courts to Capitol Hill to the IRS, Talking Tax has it covered.
Automation tools increasingly used by seasoned tax professionals are helping to take some of the pain and manual labor out of routine compliance work.
That futuristic tech goes beyond robotics process automation and can link together the many programs and platforms that accountants rely on everyday. Those building blocks can automate every step in the tax process from onboarding clients to tax return delivery, according to John McGowan, the CEO of Hubsync and former chief information officer for two Big Four tax practices.
On this episode of Talking Tax, McGowan talks to Bloomberg Tax’s Amanda Iacone about the challenges that firms face in adopting new ways of working and how it can not only help get work done faster but could make CPA firms more attractive to job candidates and clients alike.
Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.