United States Tax News

U.S. IRS Issues Revenue Procedure on Transition from LIBOR and IBOR to Alternative Reference Rates

20 October 2020

US: Additional final regulations provide foreign tax credit guidance

20 October 2020

US: Calendar year 2019 FBARs extended to 31 October

20 October 2020

US IRS confirms that some modifications to debt instruments and other contracts to reflect LIBOR discontinuation will not result in a deemed taxable exchange

20 October 2020

U.S. Signs CbC Exchange Arrangement with Singapore

16 October 2020

Statement by US government official suggests proposed foreign tax credit regulations would not affect the credit claimed by US related parties for excise tax paid to Puerto Rico under Act 154

16 October 2020

G20 Finance Ministers Communiqué Published Following Virtual Meeting

15 October 2020

U.S. Treasury List of International Boycott Countries Published

15 October 2020

EY Global Tax Controversy Flash Newsletter (Issue 27) | Managing transfer pricing risk in a rapidly changing environment

13 October 2020

Update - Final Regulations Published Providing Additional Guidance on U.S. Base Erosion and Anti-Abuse Tax

12 October 2020

US: Final regulations add clarifications and revisions to source-of-income rules

9 October 2020

U.S. IRS Large Business and International (LB&I) Division Launches Several Compliance Campaigns

8 October 2020

US: IRS “practice unit” sets forth examination guidance on the inclusion of stock based compensation in cost sharing arrangements

8 October 2020

U.S. IRS Releases Practice Unit on Cost Sharing Arrangement with Stock Based Compensation

5 October 2020

Croatia Authorizes Negotiations for Tax Treaty with the U.S.

5 October 2020

U.S. IRS Issues Final Regulations on the Deduction for Meals and Entertainment

2 October 2020

US: Final and proposed regulations limit impact of repeal of Section 958(b)(4)

2 October 2020

U.S. IRS Issues Final Regulations on Source of Income from Cross-Border Inventory Sales

1 October 2020

U.S. IRS and Treasury Issue Corrections to Final Regulations on the Deduction for FDII and GILTI

30 September 2020

US: Final regulations largely adopt proposed characterization of foreign persons’ gain or loss from sale or exchange of interests in certain partnerships, with some welcome changes

30 September 2020

U.S. IRS Providing Additional Delay for Regulations on Foreign Currency Gains/Losses

24 September 2020

U.S. IRS Issues Final and Proposed Regulations on Ownership Attribution Including for Purposes of Determining Status as CFC or U.S. Shareholder

23 September 2020

US IRS delays certain Section 987 foreign currency regulations for additional year

23 September 2020

U.S. IRS Releases Practice Unit on Overall Foreign and Domestic Losses

22 September 2020

U.S. IRS Finalizes Regulations for 100% Bonus Depreciation

22 September 2020

U.S. IRS Releases Practice Unit on Introduction to Dollar Value LIFO

21 September 2020

U.S. IRS Reminds Taxpayers and Practitioners of Expedited Letter Ruling Procedures

18 September 2020

Cyprus Publishes Notice on Expected Effective Date of CbC Exchange with the U.S. and Local Filing Obligations

18 September 2020

WTO Panel Issues Report Finding US Tariffs on Chinese Goods Not Justified Under General Agreement on Tariffs and Trade

17 September 2020

U.S. IRS Announces Publication of Final Regulations on Business Interest Expense Deduction Limitation

15 September 2020