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July 9, 2024

Washington Dispatch for June 2024

The latest edition of EY'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:


  • US House Republicans eye budget reconciliation legislation in 2025


  • US House Republicans eye budget reconciliation legislation in 2025

Treasury and IRS news

  • IRS finalizes regulations on procedure for reporting and payment of stock repurchase excise tax
  • IRS releases final digital asset broker reporting regulations and transition relief for certain brokers
  • US government addresses certain related-party partnership basis-transactions
  • US officials comment on pending CAMT
  • IRS extends penalty relief for failure to pay estimated CAMT to installment due August 2024
  • IRS clarifies changes to 2023 QI agreement in new FAQs

Tax treaties

  • US suspends key provisions of US-Russia tax treaty and protocol

Transfer pricing

  • US District Court allows enforcement of IRS summons in transfer pricing audit of Eaton

OECD developments

  • OECD/G20 Inclusive Framework releases documents on Pillar One Amount B and Pillar Two
  • OECD releases updated FAQs for MNEs participating in ICAP risk assessments
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Washington Dispatch for US distribution

Global Washington Dispatch for global distribution