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08 May 2020

EY Podcast: monthly ITS Washington Dispatch (April 2020)

 EY’s monthly Washington Dispatch podcast summarizes recent developments in US international taxation. Highlights of this month's edition include:

President Trump signs interim coronavirus relief measure; attention turns to COV’ID-19 bill #4

  • IRS issues final and proposed regulations on hybrid mismatches, DCLs and conduit financing
  • IRS regulations include new anti-abuse rule targeting certain ‘GILTI gap period’ transactions
  • Taxpayers need to consider international tax implications of making certain NOL elections under Rev. Proc. 2020-24
  • IRS issues FAQs on interaction of NOL carrybacks and Section 965 inclusions
  • IRS announces taxpayers can temporarily fax Forms 1139 and 1045 to claim NOL carrybacks and AMT credits under CARES Act
  • IRS provides relief for potential tax consequences caused by COVID-19 travel restrictions
  • IRS withdraws 2004 Notice on ‘Midco’ transactions
  • IRS releases FAQs on transfer pricing documentation best practices
  • IRS issues annual APA report for 2019
  • IRS updates FATCA FAQs
  • OECD BEPS 2.0 project to continue on current timelines
  • OECD issues guidance on impact of the COVID-19 crisis on treaty-related issues
  • OECD releases second batch of Stage 2 peer review reports on dispute resolution

    • Register for this monthly podcast on iTunes here.

    Document ID: 2020-5706

     
     

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