Tax Writers Work to Include Extenders in Omnibus

Senate Finance Committee Chairman Charles Grassley (R-IA) said expiring tax breaks known as extenders might be attached to the omnibus appropriations bill and COVID-19 rescue package coming together this week. Grassley said the must-pass nature of COVID relief in particular increases the likelihood that tax extenders can ride along with the larger package. Congressional leaders… Read more »

OECD Hoping for Restart on Digital Tax Talks

Organization for Economic Cooperation and Development (OECD) officials are hoping the incoming Biden administration will be open to restarting talks on a global digital tax plan. The OECD has been trying to reach agreement among nearly 140 countries on a global tax overhaul to address how “consumer-facing” digital giants like Apple, Google, Facebook and Twitter… Read more »

Trump Promises Tax-Cut Plan After Election

The Trump administration says it still wants to do another major tax overhaul but will wait until after the elections to roll out any policy specifics in the president’s plan. White House economic adviser Larry Kudlow said the president’s aides are “deep into discussions” about further tax cuts should Trump win reelection next week, but… Read more »

EU Warns Against Further Delays in Global Tax Talks

European Union (EU) officials are giving the Organization for Economic Cooperation and Development (OECD) until mid-2021 to achieve consensus on a global digital tax plan, but will go it alone if that target date is missed. The OECD convened a two-day meeting last week to jumpstart discussions among 137 countries on a global tax overhaul… Read more »

Window Closing in OECD Digital Tax Talks

After U.S. officials withdrew from months-long international negotiations on a global digital tax plan over the summer, the Organization for Economic Cooperation and Development (OECD) is attempting to build consensus this week on a tweaked plan. The OECD convened a two-day meeting starting today to jumpstart discussions among 137 countries on a global tax overhaul… Read more »