January 8, 2021
EY Podcast: monthly ITS Washington Dispatch (December2020)
EY’s monthly Washington Dispatch podcast summarizes recent developments in US international taxation. Highlights of this month's edition include:
- US Congress passes coronavirus stimulus and omnibus spending package, including extension of CFC look-through
- IRS issues final and proposed PFIC regulations
- Treasury to focus on other international projects, tax treaties as TCJA guidance nears completion
- Treasury’s FinCEN further extends certain FBAR signature authority reporting over foreign financial accounts
- IRS will continue ICAP joint risk assessment initiative
- US transfer pricing enforcement remains priority while TCJA provisions may negate adjustments
- IRS APMA seeing more queries on transfer pricing consequences of coronavirus pandemic
- BEPS 2.0 Pillar One and Two comment period closes; public consultation set for 14-15 January 2021
- OECD issues guidance on transfer pricing implications of COVID-19, hard-to-value intangibles
- OECD releases fourth peer review report on BEPS Action 5 on Exchange of Information of Tax Rulings
- OECD’s FTA hosts virtual meeting of tax administration leaders
Register for this monthly podcast on iTunes here.
Click here to view the segment.