04 February 2020

Washington Dispatch for January 2020

The latest edition of Ernst & Young's Washington Dispatch is attached below. Prepared by Ernst & Young LLP's International Tax and Transaction Services group, this monthly newsletter summarizes recent developments in US international taxation. Highlights of this month's edition include:

Treasury and IRS news

  • US officials offer new insights in coming international guidance 
  • IRS final regulations on US partner contributions to partnerships with related foreign partners have few changes from prior temporary regulations
  • Final FATCA and chapter 3 regulations issued 
  • IRS will consider certain requests for double taxation relief due to Section 965 repatriation
  • IRS rules target’s capitalized transaction costs do not create a separate and distinct intangible asset 

OECD news

  • OECD announces renewed IF commitment for 2020 consensus on new international tax rules under BEPS 2.0
  • OECD releases additional guidance on CbCR and summary of related notification requirements 
  • OECD releases third peer review report on Action 5 on the exchange of tax rulings 

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ATTACHMENT

Washington Dispatch for January 2020

Document ID: 2020-5182