Ernst & Young Its Washington Dispatch

Tax reform and corporate integration dominate discussions in lead up to House tax reform blueprint – Comprehensive derivatives taxation draft released -- Congressional Republicans voice concern over Proposed Section 385 debt/equity regulations – US Treasury moving forward with optional CbC reporting in 2016 -- US proposed rules would require reporting by foreign-owned US disregarded entities -- ABA Tax Section meeting highlights proposed Section 385 and Section 305(c) regulations, US Model Treaty -- Six more countries sign tax cooperation agreement enabling automatic exchange of CbC reports.