We are pleased to enclose the July issue of Tax News and Developments, a publication of Baker McKenzie's North America Tax Practice Group. This month's edition features a legislative and regulatory update, a discussion on NCA Argyle v. Commissioner, Rev. Proc. 2020-34, along with updates on SALT and DAC6.
In this issue:
- Legislative and Regulatory Update:Should We Brace Ourselves For a Busy August?
- Tax Court Agrees that Settlement Payment is Sale of Partnership Interest and Not Lost Profits
- Rev. Proc. 2020-34: Relief for DSTs Amid the COVID-19 Pandemic
- Proposed Regulations on Deductibility of Certain Fines and Penalties and Related Information Reporting
- Retirement Relief Provisions Accessible to More Taxpayers
- Cameco Corporation: Recharacterization Does Not Mean Ignoring Transactions as Structured by the Taxpayer
- New Mandatory Disclosure Rules in Mexico - “Reportable Schemes”
- High Net Worth Taxpayers FaceIRS Wealth Squad
- A “Manufactured” Attack: Department Takes Aim at Contract Manufacturing and Redrafts the Tax Law in New Draft Regulations
- Recent California State and Local Tax Developments
- Canada Emergency Wage Subsidy(CEWS) Extension
- DAC6 Update