With the release of its FY 2022 revenue proposals, the Biden Administration explains and refines some of the tax priorities raised on the campaign trail. Our International Tax Group reads the tea leaves to find the significant changes to the Tax Code the Administration won’t find easy to navigate through a Congress that features the slimmest of majorities.
- Major revisions to the Tax Cuts and Jobs Act of 2017
- Tighter rein on interest deductions and inversions
- Repealing BEAT and FDII, creating a new SHIELD against base erosion
Read the full advisory here.