The Ernst & Young ITTS Washington Dispatch brings you a monthly review of US international tax-related developments.
A monthly review of US international tax-related developments. In this edition:
OECD releases text of Amount A Pillar One MLC, US Treasury announces consultation – OECD/G20 IF MLC to implement Pillar Two STTR – US House elects new Speaker – US-Taiwan legislation moves forward – IRS proposed regs would amend Section 367(b) rules re cross-border triangular reorgs, inbound nonrecognition – US officials offer update on pending international guidance – IRS informing taxpayers of Schedule UTP non-compliance – IRS sending compliance alerts to US subs of foreign-owned corporations – IRS to broaden scope of corporate PLRs – US-Chile tax treaty’s US reservations reflect current policy – IRS appeals Tax Court’s latest decision in Medtronic – US, Israel sign CAA on CbC report exchange – Cyprus clarifies future CbC agreement with US.
Federal Tax Update Podcast Series
This week we look at:
- IRS clarified FAQ on §139A and backpay for wrongfully incarcerated members of the armed services
- FinCEN adds to the FAQ on beneficial ownership information reporting
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.
Marita Sciarrotta, the new acting director of New Jersey’s Division of Taxation, will have a busy year ahead as she settles into the role.
Sciarrotta, who spent 40 years in the tax division before taking over as acting director in September, said in an interview that she wants to modernize the state’s property tax relief programs—an endeavor that likely will require legislation to make needed changes. She also plans to increase hiring as state revenue agencies across the nation grapple with a growing number of vacancies that can impede their abilities to provide financial oversight.
On this episode of Talking Tax, reporter Danielle Muoio Dunn spoke with Sciarrotta about her plans as the division takes on lawmakers’ overhaul of New Jersey’s corporate tax system and the creation of StayNJ, a property tax relief program for seniors. Sciarrotta also discussed her long tenure in the division and the sexism she’s faced over the years.
“There are some people that kind of tend to be siloed off and one of the things I found to be most advantageous in my career is that I get like a morbid curiosity and I will ask about anything to anyone and stick my nose in a lot of different places,” Sciarrotta said.
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