Travelers wearing face shields and protective masks walk with their luggage inside Tom Bradley International Terminal at Los Angeles International Airport (LAX) in Los Angeles, California, U.S., on Thursday, Aug. 13, 2020. Bing Guan | Bloomberg | Getty Images Late-summer getaways helped lift air travel during the Labor Day weekend but the coronavirus pandemic has […]
Italy opens competition probe into Apple, Google and Dropbox’s cloud storage services
Sundar Pichai and Tim Cook Source: Reuters; Apple Italy’s competition authority announced Monday it’s looking into cloud storage services run by Apple, Dropbox and Google after hearing several complaints about allegedly unfair commercial practices. The Competition and Market Authority said it has launched six total investigations into Google Drive, Apple’s iCloud and DropBox. The agency is […]
Virgin Galactic plans next test spaceflight for Oct. 22 as it nears flying founder Richard Branson
Virgin Galactic’s spacecraft Unity reaches space for the first time. Source: Virgin Galactic Virgin Galactic plans to conducts its next crewed spaceflight test on Oct. 22, according to documents the company filed with the Federal Communications Commission on Tuesday. The flight will be the first of two that the space tourism company has planned to complete […]
How the coronavirus pandemic helped convince grocery chains to experiment with new tech
Getty Images Grocery chain Giant Eagle turned one of its stores into a checkout-less shopping experience. A handful of Price Chopper stores in Missouri are offering shoppers access to an app that can scan items and tally up their order, allowing them to skip the checkout line. Wegmans piloted a self-checkout app at three stores prior […]
Tesla falls after S&P 500 adds Etsy and two others, bypassing carmaker
SpaceX founder Elon Musk looks on at a post-launch news conference after the SpaceX Falcon 9 rocket, carrying the Crew Dragon spacecraft, lifted off on an uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, March 2, 2019. Mike Blake | Reuters Shares of Tesla dropped more […]
Labor Day weekend will set the course for the coronavirus this fall: ‘We may have some hard days ahead’
Hoteliers and prospective visitors hope Fort Lauderdale’s all-important beach, the local tourist industry’s most valuable asset, will be open for the Labor Day weekend. Thus far, officials say, it will be. Amy Beth Bennett| Sun Sentinel | Tribune News Service via Getty Images The United States is headed for a new phase of the coronavirus […]
Ford partners with Metromile for pay-per-mile insurance on new cars
Metromile CEO Dan Preston Winni Wintermeyer Ford is giving new car buyers a way to save money on insurance now that millions of Americans are working from home and driving less than they were before the coronavirus hit the U.S. The automaker said Thursday it is partnering with start-up insurer Metromile to give drivers easier access […]
Additional BEAT regs. finalized
News Foreign Income & Taxpayers By Dave Strausfeld, J.D. The IRS on Tuesday finalized regulations that provide additional guidance on the base-erosion and anti-abuse tax (BEAT) (T.D. 9910). The BEAT final regulations retain the basic approach and structure of the proposed regulations (REG-112607-19) that were issued in December 2019, with certain revisions. Like the proposed […]
Regulations coming on S corporations with accumulated E&P and GILTI
The IRS announced in a notice Tuesday (Notice 2020-69) that it intends to issue regulations addressing the application of Secs. 951 and 951A to certain S corporations with accumulated earnings and profits (AE&P). The regulations will allow S corporations to elect to have global intangible low-taxed income (GILTI) inclusions increase the S corporation’s accumulated adjustments account (AAA). […]
IRS temporarily allows e-signatures on some forms
The IRS in an internal memo Friday identified a range of forms for which it will temporarily allow required signatures in electronic or digital form. The forms are fileable only on paper but otherwise require a handwritten signature. Allowing them to be e-signed remotely before being printed out and mailed to the Service will help […]