Taxes Content

On December 4th, Maine Revenue Service released proposed amendments to their income tax apportionment regulation, which include changes to the apportionment of receipts from services, but do not specifically address apportionment of receipts from asset management services.

On December 5, 2024, the Competent Authorities of the United States and Switzerland entered into an agreement confirming that certain US pensions and other retirement arrangements, including individual retirement savings plans, may be eligible for benefits under paragraph 3 of Article...

As a follow up to ICI's meeting with Indian Government officials on outstanding tax issues, the attached draft letter outlines concerns on capital loss offsets.

The Office of Information and Regulatory Affairs recently released its Fall 2024 Unified Agenda of Regulatory and Deregulatory Actions, which includes updated Agency Rule Lists from the Department of Labor and the Treasury Department and Internal Revenue Service—including projected...

The IRS and Treasury Department released Announcement 2025-02, relating to the applicability date of future final regulations relating to required minimum distributions.

The Internal Revenue Service recently issued Notice 2024-82 containing the 2024 Required Amendments List (RA List) for certain individually designed retirement plans.

On November 29, 2024, Australia enacted legislation to require large multinational enterprises to publicly report selected tax items on a country-by-country basis for specified jurisdictions and either CBC or an aggregated basis for the rest of the world.

The Institute's 2024 surveys on state tax matters are now available on the Institute's website.

On November 6, 2024, the Competent Authorities of the United States and Norway entered into an agreement confirming that Article 20 of the US-Norway tax treaty is not applicable to US regulated investment companies.

On November 22, 2024, the IRS issued Announcement 2024-38, providing information regarding the 403(b) pre-approved plan opinion letter program.