Dispatch for: October 4, 2021
Its always infrastructure week here
Happy October everyone! Lots of movement around the infrastructure bill and what will, or will not, appear therein. This is a multimedia edition, containing both a slide deck and a YouTube video (!). This kind of top notch production value doesn’t come cheap, folks.
Valero Energy v. United States of America. Section 4081 Excise Tax, Section 6426 Credits against same, and the blending of alcohol and gasoline. Contains a good breakdown of periods of limitation for net operating losses.
NEWS OF NOTE
Crypto tax ‘a top enforcement priority,’ reminds IRS Commissioner. (Cointelegraph)
EU Seeks Views On Reforming Tax Refunds For Securities. (Law360) (See below)
CUM-EX – Cum-ex (“before-after”) refers to a dividend stripping fraud, prevalent in the EU and responsible for billions of dollars in duplicate withholding tax refunds. A quick primer on the German variant of the fraud is available in the form of a slide deck here.
WASH SALE EXPLAINED. Short primer video here.