EY Cross-Border Taxation Spotlight for Week ending 19 August 2022

A review of the week's major US international tax-related news. In this edition: President Biden signs Inflation Reduction Act of 2022 into law; includes new 15% corporate alternative minimum tax – Inflation Reduction Act includes unprecedented energy and climate provisions – Stock buyback provision in Inflation Reduction Act may have broader implications – IRS funding in Inflation Reduction Act may increase scrutiny of transfer pricing cases – Treasury and IRS to extend applicability date of 2016 final Section 987 FX regulations additional year.