TEI Files Supplemental Comments on Proposed BEAT Regulations
Summary Sentence/Magazine Intro (1-2 sentences; abbreviate TEI; include committee and contributor recognition if needed):
On August 12, TEI submitted comments to the Treasury and IRS regarding proposed regulations under section 59A, better known as the “BEAT”, recommending an alternative method to calculate a taxpayer’s BEAT liability.
TEI Submits Comments to the Treasury and IRS regarding Proposed BEAT Regulations
On February 19th, TEI submitted comments to the Treasury and IRS regarding proposed regulations providing guidance under section 59A regarding the base erosion and anti-abuse tax.
TEI Submits Comments to the FASB on the ASC 740 Treatment of the New BEAT and GILTI Regimes
TEI, through its Financial Reporting Committee and under the leadership of chair Stephen Dunphy (Silicon Valley Chapter), filed comprehensive comments with the FASB on the financial statement treatment under ASC 740 of the new BEAT (Base Erosion Anti-Abuse Tax) and the GILTI (Global Intangible Low-Taxed Income) tax regime. The BEAT and GILTI were enacted as part of tax reform legislation signed into law on December 22, 2017.