Draft Bill Introduced in U.S. Congress to Provide Temporary Relief from BEAT

U.S. Representative Andy Kim (D-NJ) issued a release on 1 July 2021 announcing the introduction of the Help Our Businesses Recover Act, a bill that would provide temporary relief from BEAT (base erosion and anti-abuse tax) liability for taxable year 2020 due to the COVID-19 pandemic's economic impact.

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Reps. Kim, Suozzi, and Garbarino Introduce Bill to Help Businesses Recover from Pandemic

WASHINGTON, DC – Today, Congressman Andy Kim (NJ-03), Congressman Thomas Suozzi (NY-03), and …