08 April 2021 Washington Dispatch for March 2021 The latest edition of Ernst & Young's Washington Dispatch is attached below. Prepared by Ernst & Young LLP's International Tax and Transaction Services group, this monthly newsletter summarizes recent developments in US international taxation. Highlights of this month's edition include: President Biden lays out $2 trillion infrastructure plan to be paid for with tax increases Senate Finance Committee holds international tax hearing Congressional Democrats introduce international tax legislation President Biden signs $1.9 trillion American Rescue Plan Act of 2021 IRS says assumption of reinsurance agreement does not result in base erosion payments IRS opens initiative on virtual currency IRS APMA program director discusses taxpayers’ treatment of COVID-related costs IRS APMA Program releases annual APA update OECD official floats BEPS 2.0 Pillar Two simplification OECD publishes jurisdictions currently participating in the International Compliance Assurance Programme ———————————————
ATTACHMENT Washington Dispatch for March 2021 Document ID: 2021-0720 | 
