Bloomberg Tax

IRS Sees Fraud Risk for ‘Vast Majority’ of Covid Credit Claims

The IRS will deny tens of thousands more pandemic-era employee credit claims it deems potentially fraudulent in the coming weeks, as it remains in a holding pattern for processing new claims, the agency said Thursday.

Justices’ Look at Overtime Exemption Proof Raises Legal Risk

The US Supreme Court’s upcoming review of the burden of proof for showing that workers are exempt from federal overtime requirements threatens to reshape the way wage-and-hour litigation plays out and alter how companies approach the issue.

IRS Details Exceptions to Retirement Plan Distribution Penalty

The IRS on Thursday issued guidance on exceptions to an additional tax on early retirement plan distributions for emergency personal expenses and for domestic abuse victims.

Labor Agency’s Rule Defense Pivots Ahead of High Court Action

The US Labor Department is abandoning a legal doctrine under which courts defer to agency interpretations of laws as a shield against challenges to some of its most high-profile rulemakings, a sign it’s attempting to head-off the US Supreme Court’s expected gutting of the Chevron standard.

USCIS Changes Email Address and E-Verify Website Address

The US Citizenship and Immigration Services updated its email address and changed the website login link for E-Verify, according to two June 18 announcements.

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Patrick Haggerty
Patrick A. Haggerty, Tax and Accounting Services

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Online Staffing Agency Settles Bias Claims About Non-US Citizens

The Justice Department has secured a settlement agreement with online staffing agency eTeam Inc. resolving the department’s determination that eTeam discriminated against non-US citizens with permission to work in the United States by excluding them from job opportunities based on their citizenship or immigration status, in violation of the Immigration and Nationality Act, the agency announced Thursday.

State of Tax: Cuts in Two States, No Anti-Tax Vote in California

The week in state tax news: Special legislative sessions in Kansas and Arkansas produced income tax cuts, with lawmakers responding to two very different governors’ positions. Meanwhile, California’s Supreme Court dealt anti-tax activists a major blow by throwing their initiative off November’s ballot, and sponsors of a New York bill to provide a business-friendly deadline extension for the SALT-cap workaround aim to push for the measure next year.

Tax Developments

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Australia Gazettes Legislative Instrument Setting Deduction Rate for Work-Related Car Expenses

The Australian Official Gazette June 17 published a legislative instrument increasing the deduction rate for work-related car expenses to A$0.88 (US$0.59) per kilometer, from A$0.85 (US$0.57) per kilometer, for income ...

United States Department of Treasury Announces Suspension of Specific Provisions of 1992 DTA With Russia

The United States Department of the Treasury June 17 announced the suspension of specific provisions of the 1992 DTA and protocol with Russia, signed June 17, 1992. The announcement includes: ...

Cyprus Tax Agency Announces Deadline for Submission of Withholding Taxes, Contributions Declarations for 2023

The Cypriot Tax Department June 4 announced the July 31 deadline for the submission of withholding taxes and contributions declarations (TF 7) for 2023. The announcement includes that noncompliance with ...

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