Business Groups Press Treasury for Optional, Expanded Amount B

Business groups are urging the Treasury Department and IRS to expand the simplified transfer pricing methods found in Amount B and to continue making the method optional for companies to elect if they choose.

Amount B is part of Pillar One of the global tax deal and offers a simplified transfer pricing method for certain transactions.

Both the US Council for International Business and the National Foreign Trade Council sent comment letters this week, urging Treasury to adopt the so-called Option 1 approach, in which the simplified and streamlined approach remains optional.

Another choice, Option 2, lets taxpayers elect to ...