The BEAT Goes On: New I.R.C. Section 59A Practice Tips

Summary

This practice note discusses I.R.C. Section 59A which was added by the Tax Cuts and Jobs Act of 2017 (the 2017 Act or The Act) (Pub. L. No. 115-97). The practice note provides a review of the various aspects of the base-erosion and anti-avoidance tax (BEAT) including who is subject to BEAT, how the BEAT is computed and the foreign tax credit.