Key Takeaways
- The Election
- IRS
- Illegal FL Sales Tax
- Tax on Super-Rich
- OECD Funding
- BOI
- What Day is it?
The Election
Potential VP Picks Offer Range of Tax Policy Experience - Alexander Rifaat, Tax Note($):
As speculation mounts over who Harris will pick as her running mate, talk in Washington has focused on a slew of white men from toss-up states and traditional Republican strongholds.
IRS
ERC Compliance Announcement on the Horizon - Caitlin Mullaney, Tax Notes($):
In a July 26 release (IR-2024-198) announcing the addition of five items to the list of warning signs of incorrect ERC claims that the IRS has encountered while processing claims, the agency stated its intent to release in the coming days more updated information on actions it’s taking to ensure ERC claim compliance for high-risk claims.
The Tax Angle: TCJA Prep, IRS Phone Problems - Stephen K. Cooper, Law360($). "From a look at Democrats' preparation to rewrite the 2017 GOP tax law to the Internal Revenue Service's continuing problems with providing customer service to tax professionals, here's a peek into a reporter's notebook on a few of the week's developing tax stories."
Illegal FL Sales Tax
Uber Accused Of Illegally Charging Tax On Delivery Fees - Sanjay Talwani, Law360($). "Uber illegally collects sales tax on food delivery fees in Florida, a customer claimed in a proposed class action removed to federal court, saying the company cannot charge the tax if customers have the option of picking up the order themselves."
Tax on Super-Rich
G20 Declines To Back Brazil's Plan For A Minimum Wealth Tax - Kevin Pinner, Law360($). "Finance ministers from the Group of 20 nations declined to back Brazil's proposal for an agreement on individual wealth taxation similar to the global corporate minimum tax, instead issuing a statement Friday that opted for softer language about cooperation.
OECD Funding
Senate Bill Would Fund OECD Despite GOP Taxwriters’ Objections - Cady Stanton, Tax Notes ($):
The Senate’s fiscal 2025 State, Foreign Operations, and Related Programs appropriations bill (S. 4797) — which advanced through the Senate Appropriations Committee July 25 with bipartisan support by a vote of 24 to 5 — would fund the United States’ $74.1 million dues to the OECD for the year. The funding matches the State Department’s request for fiscal 2025, according to the State Department’s budget justification.
BOI
Biz Groups Call Corp. Transparency Act Unconstitutional - Natalie Olivo, Law360($). "The U.S. government has failed to show how the Corporate Transparency Act meets narrow exceptions to the Fourth Amendment's search warrant requirements, a group of small businesses told a Michigan federal court Friday in contending that the statute is unconstitutional."
What Day is it?
It is National Chicken Wing Day. Where do your wings fall on the spice scale?
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