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Treasury, IRS Delay BEAT Reporting Provision to 2025 (1)

June 27, 2022, 6:36 PMUpdated: June 27, 2022, 7:17 PM

The Treasury Department and the IRS have again delayed a requirement for companies to disclose some information under U.S. anti-profit-shifting rules.

Companies will now have until Jan. 1, 2025, to disclose information about “qualified derivative payments,” under a notice (Notice 2022-30) issued Monday. That extends by two more years the Jan. 1, 2023, date that Treasury and the IRS had set last year as part of a previous extension.

The reporting provision is part of a 2019 regulation relating to the base erosion anti-abuse tax, or BEAT. Treasury and the IRS said in the notice that ...