In this section, we provide a summary of brief updates from the previous quarter on legislative, judicial, and administrative developments in tax that may impact Japanese companies operating in the United States.
COVID-19 disaster relief payments under section 139
May 3, 2023
How the end of the emergency declaration has repercussions for how employers provide benefits and reimburse employees for pandemic-related expenses
COVID-19 disaster relief payments under internal revenue code section 139 (PDF)
Proposed regulations: Reinstated Superfund chemical tax and Superfund imported substance tax
March 27, 2023
Guidance on the application of the reinstated excise taxes imposed on certain chemicals and certain imported substances
Stock repurchase excise tax and funding rule considerations for inbound taxpayers
March 27, 2023
Uncertainty regarding how the funding rule applies, how the government may attempt to resolve uncertainty in future guidance.
Stock repurchase excise tax and funding rule considerations for inbound taxpayers (PDF)
Rev. Proc. 2023 19: Waiver for individuals electing to exclude foreign earned income
March 13, 2023
Information to individuals who failed to meet eligibility requirements of section 911(d)(1)
Brazil: Guidance on new OECD-aligned transfer pricing rules
February 27, 2023
Normative Instruction No. 2,132 provides guidance on new transfer pricing rules
Corporate Alternative Minimum Tax considerations and FAQs (updated after Notices 2023-7 and 2023-20)
February 27, 2023
Five things taxpayers need to know about the CAMT, and answers to frequently asked questions
For more information, please contact:
Tai Kimura | +1 408 367 2204 | tkimura@kpmg.com
The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser. This article represents the views of the authors only, and do not necessarily represent the views or professional advice of KPMG.