Tax Committee: US Tax Filing Updates - For the 2021 Tax Year

Tax Committee: US Tax Filing Updates - For the 2021 Tax Year - March 29

Speaker: AMCHAM Tax Committee Co-Chair Matthew Stevens, Managing Director of Global US Tax Plan.

Host: AMCHAM’s Tax Committee Co-Chair John Andes, International Tax Partner of KPMG Thailand.

Moderator: AMCHAM’s Tax Committee Co-Chair Jonathan Stuart-Smith, Partner Tax Leader of Mazars Thailand.

Organizers: Tax Committee

Event Highlights:

AMCHAM’s Tax Committee held what has become a yearly event: US Tax Filing Updates – For the 2021 Tax Year. Matthew began the discussion with a review of tax updates in the American Rescue Plan Act and Infrastructure Investment and Jobs Act. He also talked about tax credit items that will expire in 2021 tax year such as Recovery Rebate Credit and Premium Tax Credit for Unemployed.  Prior to the question-and-answer session, he elaborated on the rules of international income sourcing and updated treasury regulations.

“With Covid-19, you may have heard that the IRS has many backlog cases. So, if you have some documents to clean up, now is the best time to do it. It is less likely that the IRS will ask for tax investigation.” – Matthew