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December 7, 2021

Washington Dispatch for November 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:


  • House passes Build Back Better Act budget reconciliation bill; action moves to Senate
  • President Biden signs infrastructure legislation including new cryptocurrency reporting

IRS news

  • Final FTC regs expected by year-end, PTEP regs in 2022
  • New IRS tool supports withholding agents’ compliance with Form 1042-S
  • OECD remains committed to BEPS Pillars in effect by end of 2023

Digital Taxation

  • US, Turkey announce joint statement on unilateral digital tax compromise
  • India, US agree on transitional approach for 2% Equalization Levy prior to implementation of Pillar One rule

OECD news

  • OECD releases 2020 MAP statistics and awards


Washington Dispatch for November 2021