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Tax-free student loan payments

Tax-free student loan payments

COVID-19 legislation permits taxpayers to provide tax-free payments for certain student loan payments through 2025.
Inflation is back: Is it here to stay?

Inflation is back: Is it here to stay?

Recent economic data has stoked inflation fears. The question is whether these signs of upward price pressure are cyclical or structural.
Massachusetts court allows sales tax on software to be apportioned

Massachusetts court allows sales tax on software to be apportioned

Purchasers of software to be used in multiple jurisdictions can apportion sales tax and may be able to seek a refund of tax paid.
Court of Appeals rejects IRS’ substance over form argument

Court of Appeals rejects IRS’ substance over form argument

Ninth Circuit reverses Tax Court, based on Congress’ provision of tax benefits based on form rather than substance.
G7: Groundbreaking steps to a 15% global minimum tax

G7: Groundbreaking steps to a 15% global minimum tax

During conversations on Saturday June 5, 2021, the G7 made historic strides toward multilateral agreement on a 15% global minimum tax rate.
Treasury extends safe harbor for renewable energy projects

Treasury extends safe harbor for renewable energy projects

Guidance extends continuity safe harbors for Investment Tax Credit and Production Tax Credit if construction began between 2016-2020.
New Canadian GST HST rules may affect certain nonprofits

New Canadian GST HST rules may affect certain nonprofits

Organizations earning fees for digital products and services from residents of Canada may be required to register for GST/HST.
South Carolina enacts SALT deduction workaround

South Carolina enacts SALT deduction workaround

South Carolina becomes the latest state to enact a state and local tax deduction limitation workaround joining at least a dozen others.
Nebraska cuts corporate income tax rates

Nebraska cuts corporate income tax rates

Nebraska enacts corporate income tax rate reductions over the next two years while promising more reductions in subsequent measures.
White House releases President’s budget, Treasury Greenbook

White House releases President’s budget, Treasury Greenbook

Administration issues Presidential priorities and pay-fors. Corporations and wealthy individuals face prospect of increasing tax rates.
Maryland delays digital ad tax; provides digital goods clarification

Maryland delays digital ad tax; provides digital goods clarification

The first-in-the-nation digital advertising tax is postponed for one year until 2022 while the state prepares regulations and guidance.
New user fee proposed for estate tax closing letters

New user fee proposed for estate tax closing letters

The Internal Revenue Service issued proposed regulations establishing a user fee to request estate tax closing letters.
Responsible Officer (RO) FATCA Certifications are due July 1, 2021

Responsible Officer (RO) FATCA Certifications are due July 1, 2021

RO certifications for the Dec. 31, 2020 period are due July 1, 2021. RSM can assist ROs with this and other FATCA compliance requirements.
Emerging Markets: Recent pause cause for alarm?

Emerging Markets: Recent pause cause for alarm?

Gains in emerging markets stocks failed to sustain further advances so far this year. Let's look at some of the key drivers.
Oklahoma cuts corporate and individual income tax rates

Oklahoma cuts corporate and individual income tax rates

Oklahoma tax bills revise the corporate, pass-through entity workaround and individual income tax rates for 2022.