JD Supra

Proposed IRC section 899 ‘revenge tax’ targets residents of certain discriminatory/offending foreign countries

On June 16, 2025, the Senate Finance Committee released its proposed version of the “One Big Beautiful Bill Act” (the Senate Bill). The House of Representatives passed its version of the bill on May ...
JD Supra

Proposed Section 899 - The Retaliatory Tax Regime

The One Big Beautiful Bill Act (the “Bill”), which was passed by the House of Representatives on May 22, 2025, contains a provision that, if enacted in its current form, would have a dramatic impact ...
Forbes

Moving Forward: International Tax After The OBBBA

TAX letter on block cubes on wooden table over world map, modern office city tower and skyscraper, Business and finance concept, Elements of this image furnished by NASA In this episode of Tax Notes ...
Hosted on MSN

G7 countries agreed on a side-by-side tax agreement, relieving American firms.

The United States and other G7 members agreed to adopt a “side-by-side” approach to the framework, which would exempt American companies from parts of the international tax rules. The US ...
WBAL-TV

Lawmakers remove 'revenge' tax provision from Trump's big bill after Treasury Department request

Congressional Republicans agreed to remove the so-called revenge tax provision from President Donald Trump’s big bill on Thursday after a request by Treasury Secretary Scott Bessent.The Section 899 ...