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December 16, 2021
2021-6382

Monday, 20 December 2021 | Understanding the US Build Back Better Act (1 pm ET)

Since the US Build Back Better Act (BBBA) reconciliation bill passed the House of Representatives on 19 November 2021, companies have been waiting to see what action the Senate would take. The draft legislative text released on December 11, 2021 by Senate Finance Committee Chairman Ron Wyden, (SFC proposal), contains several changes to the international tax proposals in the House bill.

In this webcast, EY panelists will discuss the SFC proposal with particular focus on the international tax provisions as compared to the House bill. Topics to be discussed include:

  • Legislative outlook for the BBBA reconciliation bill

  • Interest expense limitation under proposed Section 163(n)

  • Subpart F and global intangible low-taxed income

  • Foreign tax credits

  • Corporate alternative minimum tax

  • Anti-inversion rules of Section 7874

  • Base erosion and anti-abuse tax under Section 59A

Date: Monday, 20 December 2021

Time: 1:00–2:00 p.m. ET New York; 10:00–11:00 a.m. PT Los Angeles

Registration: Register for this event.

Panelists

  • Rebecca Burch, Executive Director, Washington Council Ernst & Young, Ernst & Young LLP

  • Anna Voortman, Principal, National Tax Department, International Tax and Transaction Services, Ernst & Young LLP

  • JD Hamilton, Partner, National Tax Department, International Tax and Transaction Services, Ernst & Young LLP

  • Josh Ruland, Principal, National Tax Department, International Tax and Transaction Services, Ernst & Young LLP

Moderator

  • Colleen O’Neill, Director of International Tax and Transaction Services, National Tax Department, Ernst & Young LLP

CPE credit offered: up to 1.2 depending on duration. Recommended field of study: Taxes. Learning objectives: Recognize the differences between the international tax portions of the House-passed Build Back Better Act and the subsequent Senate Finance Committee version; identify specific proposals in the legislation with potential impact on multinational companies; recognize how the legislative process could affect the outlook for these proposed tax policy changes. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

Learn about and register for Thought Center webcasts

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The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

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