The Pro Codes Act would allow for portions of the law to be copyrighted. This is bad and should be opposed.
SDOs like the Financial Accounting Standards Board (FASB) play a critical role in crafting standards, such as GAAP, which are frequently incorporated into statutory and regulatory frameworks.
The Act seeks to allow SDOs to retain copyright over their standards. This would create a major access to justice issue.
In this week's Insights I wrote about a fun little fraud (if #tax fraud can ever be fun) in the EU involving shipping #Apple #AirPods in a big loop and exploiting input credit refunds for VAT payments never made. Also known as a "carousel" or "missing trader intra-community" fraud.
This week, our experts covered topics ranging from challenges of the global minimum tax for US employers to how the IRS should respond to a government shutdown. For a look at the latest commentary and analysis, check out our weekly roundup.
In this Week in Insights, I vainly attempt to wave the yellow flag (I'm made to understand this means caution) on the coming April 2024 #electricvehicle tax credit cliff.
"The landscape is shifting once more for electric vehicle incentives. We’ve been sounding the alarm on this for more than a year, and now the deadline is upon us—on April 18, 2024, only a handful of EVs will still qualify for the full $7,500 federal EV tax credit.”
This week, our experts covered topics ranging from the Moore v. United States petitioners’ argument for invalidating the mandatory repatriation tax to the benefits of designating accounting as a STEM field. For a look at the latest commentary and analysis, check out our weekly roundup.
This week for Insights I wrote about the new "junk food law" in #Colombia that carries with it an interesting ultra-processed food tax. The goal is to use the revenue generated by said tax to subsidize healthier options. The #VAT system means it would result in the prices on healthy options *at the shelf* being lower. Pretty cool.
It will target ultra-processed foods with an additional 10% surcharge, which will increase to 20% in ’25.
This week, our experts covered topics ranging from legislation designed to improve the IRS’s whistleblower program to the challenges of reforming New York City’s property tax structure. For a look at the latest commentary and analysis, check out our weekly roundup.
Tues 10/23 - Menendez Pleads Not Guilty, CO Can't Bar Anti-LGBTQ School from State Program, Biden Judicial Nominations Profiled, BK in Radiology and Banks vs. CFPB
Senator Bob #Menendez pleading not guilty, again, #CO can’t bar anti-#LGBTQ school from state program, an all-#Biden court shows how nominations have changed, a bankruptcy in radiology and banks are mad at #CFPB.
https://www.minimumcomp.com/p/tues-1023-menendez-pleads-not-guilty
Listen now (12 mins) | Menendez pleading not guilty, again, CO can’t bar anti-LGBTQ school from state program, an all-Biden court shows how nominations have changed, a bankruptcy in radiology and banks are mad at CFPB.
This week I wrote about the "worst EV policy in the world," which seems to have breathed its last in #Australia.
"The High Court has struck down a Victoria law that imposed a road-user charge on EVs. The tax was A$2.6 cents to $2.8 cents per kilometer per year and intended to make up for the gas taxes not paid by EV drivers. Drivers were required to submit annual photos of their odometers to the tax authority.”
This week, our experts covered topics ranging from California’s approach to sourcing local sales and use tax revenue to the IRS’s proposed guidance on research and experimentation expenditures. For a look at the latest commentary and analysis, check out our weekly roundup.
Weds 10/4 - Trump Gagged, SCOTUS Might not gut CFPB, Hunter Biden Pleads Not Guilty, SBF Trial Resumes and Column Tuesday on Software Development Expenses
#Trump getting a gag order, #SCOTUS seems reticent to gut #CFPB, Hunter pleads not guilty, #SBF trial resumes and Column Tuesday, but on a Wednesday, and about software development research-expensing.
https://www.minimumcomp.com/p/weds-104-trump-gagged-scotus-might#details
Listen now (11 mins) | Trump getting a gag order, SCOTUS seems reticent to gut CFPB, Hunter pleads not guilty, SBF trial resumes and Column Tuesday, but on a Wednesday, and about software development research-expensing.
Hey #tax professionals in the #lawfedi world, Bloomberg is looking to hear from you about what changes you’d like to see in the industry.
They want short essays (<300 words) by September 29. It’s a great opportunity to not only air your broader tax policy/industry grievances but get a publication under your name.
DM me any questions and I’ll pass them along.
This week I wrote about the latest craze on #TikTok ... tax fraud.
"But most of the blame falls on the ATO for its lack of oversight. The scheme was so simple that many claimants were unaware their actions amounted to fraud. Such situations also make taxpayers vulnerable to identity thieves who can use their information for a quick payday, leaving the taxpayer to explain themselves when they seek their own income tax refund.”
Remember kids on the sides of milk cartons? Well, it didn't work AND it was mostly a tax thing.
"Milk carton manufacturers didn’t put those pictures on containers because ‘a missing kid is one less milk consumer,’ as my grandfather suggested. Instead, they were taking advantage of tax breaks for participating in the National Child Safety Council program.”
Andrew Leahey