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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Pittsburgh Business Times

Allegheny County awards $15M to hospitality businesses via CHIRP grants

Mon, May 10, 2021

Grants ranged from $5,000 to $25,000. ...

Here's how much 10-county Pittsburgh region is getting from $350B American Rescue Plan

Mon, May 10, 2021

The U.S. Department of the Treasury on Monday revealed the breakout of the $350 billion American Rescue Plan and how much will be awarded to counties and cities in the Pittsburgh region. That includes $335 million to Pittsburgh itself and almost $381 million to Allegheny County. The Coronavirus State and Local Fiscal Recovery Funds enable each government to meet local needs, from support t...

EQT shares rise to near 52-week high following Alta deal

Mon, May 10, 2021

Also Monday, EQT announced it would offer $1 billion in senior notes in a private placement to help fund the Alta deal. ...

Richard King Mellon Foundation gives $5M for digital health initiative

Mon, May 10, 2021

The Richard King Mellon Foundation on Monday gave $5 million to Highmark Health to help develop its digital Living Health program and further improve services for mental and medical health initiatives. The funding will be used to help people with chronic conditions, including mental health, to better access health information and care through the Living Health initiative, which is Highmark Hea...

Will U.S. Steel remain committed to growth in the Pittsburgh region?

Mon, May 10, 2021

“The reality is a company can be headquartered here and not have any operations here." ...

Menards working to expand into the region with first Pennsylvania store in Fayette County

Mon, May 10, 2021

Township commissioner reports new home improvement store expected to be economic development boost to his Fayette County community. ...

Business bankruptcy filings down 17% in 1Q, but jury's still out for Pittsburgh region

Mon, May 10, 2021

Has western Pennsylvania dodged the bullet or have stimulus dollars just delayed the pain? ...

Report: Shutdown of Enbridge Line 5 pipeline would have big impact in Pennsylvania

Mon, May 10, 2021

The CEA report released Monday said that shutting down Line 5 would provide a $20.8 billion hit to the Midwest economy, with the majority, $13.7 billion, from Ohio alone. But it would have an impact in western Pennsylvania because Enbridge Line 5 supplies refineries in Ohio, Pennsylvania, Michigan, Ontario and Quebec. ...

What else may have factored into U.S. Steel's decision to cancel investment in the Mon Valley?

Mon, May 10, 2021

Jeff Nobers, executive director of Pittsburgh Works Together, said he hopes the region learned a "painful lesson." ...

Viatris confident in strength of supply chain despite Covid-19 resurgence in some parts of the world

Mon, May 10, 2021

That being said, the Covid-19 pandemic has impacted Viatris. ...

US Tax News

Tax-News.com: US IRS Reminds Of FBAR Filing Obligation

Thu, Apr 15, 2021

The Internal Revenue Service is reminding US citizens, resident aliens, and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021....

Tax-News.com: US Tax Season Begins

Mon, Feb 22, 2021

The Internal Revenue Service launched tax season for individuals on February 15, 2021, highlighting the various supports available for taxpayers when preparing their returns. ...

Tax-News.com: Digital VAT Regimes Vital To Buoy Countries' Tax Takes: Report

Thu, Dec 10, 2020

The OECD has released its annual Consumption Tax Trends report, which highlights that with VAT rates at an all-time high, governments should ensure they have effective VAT frameworks in place to tax e-commerce. ...

Tax-News.com: BVI Rules Out New Taxes In 2021 Budget

Tue, Nov 17, 2020

The Government of the British Virgin Islands has announced that it will seek to boost tax collections by modernizing tax administration, not by imposing new taxes. ...

Tax-News.com: Cayman Tables Law For Digital Asset Business Regime

Tue, Nov 17, 2020

The Government of the Cayman Islands has published legislation in its Official Gazette to introduce a regulatory regime for virtual asset service providers (VASPs). ...

Tax-News.com: France To Collect Its Digital Services Tax This Year

Tue, Oct 20, 2020

French Minister of Finance Bruno Le Maire has reportedly said that France intends to collect the country's digital services tax in December 2020. ...

Tax-News.com: OECD Indicates New Focus On Virtual Currency Tax Issues

Tue, Oct 20, 2020

The OECD has released a new report on countries' tax rules for virtual currencies, alongside an announcement that the Common Reporting Standard will be expanded next year to newly cover virtual currency assets. ...

Tax-News.com: Cyprus, US To Begin Exchanging CbC Reports

Tue, Sep 22, 2020

Cyprus has announced that a deal for the exchange of country-by-country reports between the territory and the US is expected to become effective and cover reporting years starting on or after January 1, 2020....

Tax-News.com: German FM Scholz Optimistic About 2020 Digital Tax Consensus

Mon, Aug 31, 2020

German Finance Minister Olaf Scholz is optimistic that an international agreement on taxing the digital economy will be reached this year. ...

Tax-News.com: UK Treasury Rules Out Digital Tax Repeal

Mon, Aug 31, 2020

The UK Government has dismissed speculation that it will repeal its digital services tax in a bid to secure a post-Brexit free trade agreement with the United States. ...