The issue: The Internal Revenue Service (IRS) is finalizing regulations that require the filing of a new tax form, the country-by-country report (CbCR), by U.S. taxpayers that are a parent of a multinational enterprise (MNE) group. This new tax filing requirement applies to companies with $850 million or more in global group revenues and is planned to be effective for fiscal years beginning on or after July 1, 2016.

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