Daily Tax Update - September 5, 2014: House Will Vote Again on Extenders in Jobs Bill This Month

House Will Vote Again on Extenders in Jobs Bill This Month:  In a September 4 memorandum to House Republicans outlining the agenda for Congress’s return to session, House Majority Leader Kevin McCarthy listed several tax bills already passed by the House to be included in the jobs package.  The bills include a permanent extension on an expanded version of the alternative simplified research credit, a permanent extension of bonus depreciation, a permanent ban on Internet access taxation, and permanent expensing under Section 179 of up to $500,000 in equipment per year.

Criticism for Buenos Aires “Netflix Tax”:  Effective November 1, foreign providers of online entertainment content will be subject to a three percent gross income tax (dubbed the “Netflix Tax” by the media) on their sales and rentals in Buenos Aires, Argentina. Under Resolution No. 593, issued August 27 by the Buenos Aires Governmental Administrator of Public Revenues and published in the city’s official gazette earlier this week, debit and credit card providers would be required to withhold three percent of any payments remitted to providers of streaming services.  President Cristina Fernández de Kircher of Argentina has spoken out against the tax, and others have questioned its legitimacy.