Latest COST Conscious

ISSUE 22-19; September 23, 2022

Company Travel Budgets – It’s that time of year again, when we ask about member companies’ travel policies for conferences, continuing education, and other meetings. We are hopeful that travel and budget policies of member companies have significantly improved in the past year (or even months). Which of the following statements best describes your company’s current approach to employee travel?

Latest Practitioner Connection

ISSUE 22-19; September 16, 2022

State and Local Tax Implications of Having Hybrid and Remote Employees – An employer’s remote-work policies can help retain and attract top talent, but they also can affect an employer’s own tax obligations. This alert provides an overview of some of the state and local tax implications employers should know about. Michelle DeLappe and Chantal C. Renta, Fox Rothschild LLP, September 8, 2022.

BLOOMBERG TAX

Truss Says UK Tax Cuts Are the ‘Right Plan’ Amid Market Rout (3)

September 29, 2022

Liz Truss defended her UK government’s huge set of unfunded tax cuts after it sent the pound and gilts tumbling, instead blaming global economic pressures for the fallout from her fiscal package last week.

South Africa Joins the UK in Banning Bain, Citing Fraud (1)

September 29, 2022

South Africa has banned Bain & Co. from bidding for public-sector contracts for a decade, following the lead of the UK, after the consulting firm was accused of helping government officials degrade the African country’s revenue service’s ability to probe tax evasion.

HILL TAX BRIEFING: New IRS Head Could Be Management Whiz

September 29, 2022

Read more: Yellen prepared to stay past midterms. Jose Murillo leaves Treasury. Kristi Noem promises to eliminate South Dakota's grocery tax.

Newsom Vetoes Tax Credit for Low-Income Californians Without Cars

September 29, 2022

California Gov. Gavin Newsom rejected a bill Wednesday that would have given low-income Californians a $1,000 tax credit per household that didn't own a car, saying the $1 billion price tag is too high.

Newsom Signs Bill Restoring Flow of Winegrower Tax Return Data

September 29, 2022

California will publicly release confidential information from winegrower tax returns upon request under a bill signed by Gov. Gavin Newsom (D) on Wednesday.

Lawsuit Funders Look to Take Advantage of Currency Value Plunge

September 29, 2022

Roy Strom's latest Big Law Business column explores how the currency plunge that's gripping the United Kingdom and Europe relative to the dollar has created an arbitrage play for litigation finance companies in the US.

Biden Turns to Companies on Hunger to Bypass Impasse in Congress

September 29, 2022

Promises from food companies and nonprofits were front and center at the White House’s first summit on hunger in over 50 years.

The Dollar Is a Problem for World, and the US Just Doesn’t Care

September 29, 2022

The mighty dollar is steamrolling everything right now, causing issues for economies almost everywhere—except in the US. That means that, for now at least, it’s not America’s problem and the historic central-bank-fueled surge in the greenback is unlikely to abate anytime soon.

Democrats Ask Yellen to Reject Lobbying on Minimum Corporate Tax

September 29, 2022

Congressional Democrats are urging the Treasury Department to ignore appeals by lobbyists to weaken the 15% minimum levy on domestic corporations.

Creative Biden Student Debt Relief Challenge Still Might Fail

September 29, 2022

The first lawsuit filed to stop President Joe Biden’s student loan debt relief plan is creative, but not everyone is sure it will work. An opt out revision could moot the case, legal scholars say.