February 5, 2021 2021-0271 Washington Dispatch for January 2021 The latest edition of Ernst & Young'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: Treasury and IRS news - US Treasury Secretary says no new taxes for now, commits to OECD BEPS discussions
- New final regulations address application of Section 163(j) limitation to CFCs and partnerships, while reserving on certain provisions
- IRS allows remote signing and submission of authorization Forms 2848 and 8821
- IRS official says guidance on worldwide interest expense allocation is a top priority, proposed FTC regs in 2021
OECD Developments - OECD Inclusive Framework political leaders promote global consensus following OECD’s public consultation on Pillar One and Two Blueprints
- OECD Secretariat issues updated guidance on tax treaties and impact of COVID-19 pandemic
——————————————— ATTACHMENT Washington Dispatch for January 2021 
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