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July 1, 2022

Washington Dispatch for June 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:


  • Democrats fail to reach consensus on pared-down budget reconciliation package
  • Treasury Secretary testifies in support of anti-inflationary measures, BEPS 2.0


  • US Supreme Court accepts FBAR filing case

IRS news

  • IRS to defer reporting for certain derivative payments in forthcoming BEAT regulations

OECD Developments

  • OECD officials offer update on BEPS 2.0 Pillars One and Two
  • OECD releases public consultation documents on tax certainty under Amount A for Pillar One


Washington Dispatch for June 2022