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Congress should enact the pro-worker international tax reforms in the Build Back Better framework.

The Boston Globe published this editorial on July 13: President Biden and other world leaders are on the brink of an extraordinary agreement that could curb the maddening — and until now, seemingly insoluble — problem of corporate tax evasion. Success would mean hundreds of billions of dollars in new revenue for fixing crumbling infrastructure, healing the sick, and improving schools from Massachusetts to Mumbai. But the president cannot deliver on the American end of the deal alone. He will need help from Congress if the world’s most powerful country is to do its part to bring...

To embed, copy and paste the code into your website or blog: On May 28, 2021, the US Department of the Treasury (Treasury) released the Fiscal Year (FY) 2022 budget and Green Book, which provides detailed insights into the proposals of US President Joe Biden’s recently released American Jobs Plan and American Families Plan. This article summarizes the key proposals affecting businesses and provides further insight on planning considerations. IN DEPTH COUNTRY-BY-COUNTRY REGIME TO APPLY TO GILTI AND FOREIGN BRANCH INCOME The current global intangible low-taxed income (GILTI) regime operates o...

On May 28, 2021, the Treasury Department released the General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals (sometimes called the Green Book) to accompany...

A previous Holland & Knight alert provided an overview of corporate and individual income tax increases as detailed in the U.S. Department of the Treasury May 2021 "Green Book." (See...