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.

DECISIONS

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)

Mileage tax study, not actual mileage tax, proposed in infrastructure bill. (AP)

A Look at the House Ways and Means Committee’s Tax Proposals. (JDSupra)

Here’s how the infrastructure bill would favor cheaper, US-made EVs. (Ars Technica)    

Massachusetts Scraps Overhaul of Sales Tax Filing Rules. (Bloomberg)

EU Seeks Views On Reforming Tax Refunds For Securities. (Law360) (See below)

OP-ED/INTERESTS

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.