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Washington Tax Insight September 2021

Politics and Congressional Activity The fall agenda for Congress will be busy and challenging; work must be completed on the infrastructure legislation, the budget reconciliation legislation, and the fiscal year 2022 government funding spending package along with addressing the debt ceiling limit.  The House returns to Washington for votes starting on September 20th, but there are two weeks designated as “committee work weeks” prior to that and the two tax-writing […]

September 13, 2021

A Global Minimum Tax: The OECD Negotiations & the Biden Proposal for Changes to the GILTI Rules

For the last several years, the OECD and several of its key member countries have been engaged in a campaign to take actions that would discourage multinational companies from shifting profits to low-tax countries.  Plans are in place for a final OECD global agreement to be reached on several fundamental changes to international tax rules by October 2021, which coincides with work in the US Congress on major changes to […]

September 7, 2021

Washington Tax Insight August 2021

Politics and Congressional Activity The House already left for its August recess that began on August 2nd, and the Senate recess is scheduled to begin on August 9th.  Congress is scheduled to return on September 10th.  There is the possibility that the Senate will delay its August recess, especially considering the busy schedule facing Congress.  Senate Majority Leader Schumer (D-NY) has warned his Senate colleagues that the recess will be […]

August 9, 2021