June 7, 2022 2022-0884 Washington Dispatch for May 2022 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: Legislation - Budget reconciliation remains stalled, but with some behind-the-scenes talks
IRS news - More US FTC guidance coming
- US government officials offer update on future international projects
- IRS GLAM addresses allocating and apportioning 'deferred compensation expense' for FDII deductions
- Changes to QI withholding agreement rules expand QI withholding and reporting responsibilities
OECD developments - OECD officials offer BEPS 2.0 update
- OECD releases public consultation document on Regulated Financial Services Exclusion under Amount A for Pillar One
——————————————— ATTACHMENT Washington Dispatch for May 2022
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