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23 May 2022

EY Podcast: weekly US international cross-border taxation news for week ending 20 May 2022

EY’s Spotlight podcast is a review of the week's major US international tax-related developments. Highlights of this week’s edition include:

US House leaders hope to pass “China competitiveness” bill before 4 July recess

Senate introduces bill to disallow foreign tax credits (FTCs) for taxes paid to Russia or Belarus

Treasury, IRS considering changes to FTC regulations

IRS proposed Section 1256 regulations on FX contracts set for release in coming weeks, Section 987 rules to follow

IRS issues GLAM on allocation and apportionment of deferred compensation expense for FDII deductions, reverses prior guidance

Treasury, OECD officials offer BEPS 2.0 insights

Click here to view the segment.

Document ID: 2022-5499

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