07 June 2022

Washington Dispatch for May 2022

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

Legislation

Budget reconciliation remains stalled, but with some behind-the-scenes talks

IRS news

More US FTC guidance coming

  • US government officials offer update on future international projects

  • IRS GLAM addresses allocating and apportioning 'deferred compensation expense' for FDII deductions

  • Changes to QI withholding agreement rules expand QI withholding and reporting responsibilities

    OECD developments

    OECD officials offer BEPS 2.0 update

  • OECD releases public consultation document on Regulated Financial Services Exclusion under Amount A for Pillar One

    ———————————————
    ATTACHMENT

    Washington Dispatch for May 2022

    Document ID: 2022-5552