The United States has increased the minimum penalty for failing to file a tax return.
Mandatory e-filing has been extended to nonprofit organisations.
Significant amendments have been made to Delaware corporation laws.
In order for US businesses with international operations to avoid incurring significant foreign tax liabilities, the United States has implemented a network of tax treaties with other countries. The treaties reserve reduced tax rates and other benefits solely for residents that can provide proof in the form of US residency certificates. US residents may request the residency certification by filing Form 8802 (Application for United States Residency Certification). The process of obtaining the certificate is notoriously slow and may take 10 or weeks or more.
The US Supreme Court eliminated the “physical presence” safe harbor that had been protecting companies from sales tax for nearly 50 years. Unless Congress revokes this decision, the case may adversely impact both US and non-US businesses, as well as US consumers.