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The True Plan Insights

Highlights of the Base Erosion and Anti-Abuse Tax (BEAT) Final and Proposed Regulations Issued by Treasury and the IRS in December 2019

On December 2, 2019, the US Treasury and IRS released final regulations (T.D. 9885) (the Final Regulations) and new proposed regulations (REG-112607-19) (the 2019 Proposed Regulations) for the Base Erosion Anti-Abuse Tax (BEAT) under section 59A of the Internal Revenue Code.  The BEAT was enacted as part of the 2017 US tax reform legislation, referred to as the Tax Cuts and Jobs Act (TCJA) (Pub. L. No. 115-97 enacted December […]

January 27, 2020

Washington Tax Insight January 2020

Happy New Year! Politics and Congressional Activity Prior to adjourning for the year, the House and Senate both approved a $1.37 trillion spending bill, which the President signed, thereby avoiding a government shutdown.  This bill includes a number of tax provisions that were agreed upon, including retirement legislation, extenders, disaster-relief provisions, and health-related tax issues, with a revenue cost estimate of $426 billion over 10 years. The House returns to […]

January 3, 2020

Washington Tax Insight December 2019

Politics and Congressional Activity The House and Senate both passed a continuing resolution (CR) that extends government spending authority at 2019 levels through December 20th, and the President signed the bill, thereby averting a government shutdown.  Reportedly, budget negotiators have agreed to new budget levels for many government programs, but they have yet to agree on one of the key issues, which is funding for the President’s proposed border wall. […]

December 4, 2019