Ernst & Young Its Washington Dispatch

Congressional Republicans maintain opposition to Proposed Section 385 regulations -- IRS focusing on FATCA IGAs currently ‘in effect’ -- Obama Administration issues White Paper on EU State aid investigations – IRS final regulations issued on 2% tax on payments US government makes to foreign persons under certain contracts -- Treasury/IRS 2016-2017 Priority Guidance Plan contains several new international tax projects -- Lawsuit filed challenging anti-corporate inversion regulations -- OECD releases Discussion Draft on branch mismatch structures.