06 February 2018

Washington Dispatch for January 2018

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

Legislation

— US Treasury addresses TCJA guidance

IRS news

— IRS begins filling in details on TCJA's new Section 965 transition tax on foreign earnings
— Treasury grants yet another extension of time for reporting signature authority (FBAR, Form 114) over certain foreign financial accounts

Transfer pricing news

— IRS LB&I issues instructions for examiners on transfer pricing selection issues
— IRS limits use of mandatory transfer pricing IDR and instructs examiners on penalties in transfer pricing cases

OECD developments

— OECD launches International Compliance Assurance Program pilot

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ATTACHMENT

Washington Dispatch for January 2018

Document ID: 2018-0262