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10 May 2023

EY Podcast: monthly ITS Washington Dispatch (April 2023)

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

US House Republicans pass debt ceiling, spending bill; impasse continues

  • IRS provides transition period for documentation requirements for FTC ‘single country exception’

  • IRS updates crypto notice, virtual currency remains unavailable to generate FX gain or loss

  • IRS addresses micro-captive transactions as listed transactions

  • IRS releases general plan for spending $80 million over next 10 years

  • IRS interim guidance on APA submissions fundamentally changes early stages of process

  • US Tax Court rules IRS cannot assess penalties under Section 6038(b) for willfully failing to report foreign income

    Register for this monthly podcast on Apple Podcasts here.

    Document ID: 2023-5449

     
     

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