⚖️New Regulations for Defense Consulting Services and Foreign Entities
DoD is issuing a final rule amending the Defense Federal Acquisition Regulation Supplement (DFARS) to implement a section of the National Defense Authorization Act for Fiscal Year 2024, which prohibits contracting officers from awarding contracts assigned certain North American Industry Classification System codes to offerors holding contracts that involve consulting services with certain covered foreign entities.
Learn More📄SEC Notice for OMB Review on Form T-6 Extension
The SEC has submitted a request to the Office of Management and Budget for an extension of the information collection associated with Form T-6. This form is critical for foreign corporations aiming to act as trustees under U.S. law, outlining the eligibility requirements and information collection process essential for compliance.
Learn More📊New IRS Regulations on Disregarded Payments and Corporate Tax
This document contains final regulations regarding certain disregarded payments that give rise to deductions for foreign tax purposes and avoid the application of the dual consolidated loss ("DCL") rules. The final regulations affect domestic corporate owners that make or receive such payments. This document also announces additional transition relief for the application of the DCL rules to certain foreign taxes that are intended to ensure that multinational enterprises pay a minimum level of tax.
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