What the new guidance may mean for recent and longstanding questions

Recently released proposed regulations addressing the treatment of previously taxed earnings and profits (PTEP) represent the first major proposed guidance in this area since 1965. These proposed regulations address longstanding questions, including many complexities introduced by the 2017 Tax Cuts and Jobs Act.

Please join a panel of EY thought leaders for an in-depth discussion of the proposed PTEP regulations, including:

• Accounting for PTEP and related asset basis adjustments
• New proposed rules for partnerships structures
• Foreign currency translation rules
• Proposed applicability dates

Date: Wednesday, January 8, 2025

Time: 1:00-2:00 p.m. ET New York; 10:00-11:00 a.m. PT Los Angeles

Registration: Register for this event.

Panelists

Joshua Ruland, Principal, National Tax Department, International Tax and Transaction Services, Ernst & Young LLP

Enrica Ma, Principal, National Tax Department, International Tax and Transaction Services, Ernst & Young LLP

Ray Stahl, Principal, National Tax Department, International Tax and Transaction Services, Ernst & Young LLP

Moderator

Jose Murillo, EY Americas International Tax and Transaction Services Leader

CPE credit offered: up to 1.2 depending on duration. Recommended field of study: Taxes. Learning objectives: Analyze the updates to PTEP rules; assess PTEP accounting and related basis adjustment issues and identify key dates and transition rules. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

EY webcast managed and produced by Ernst & Young LLP's Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax | lynn.fairfax@ey.com and Barbara Kirchheimer | barbara.kirchheimer@ey.com

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