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BEAT Qualified Derivative Payment Reporting Deferred Until 2025

The IRS has amended the base erosion and anti-abuse tax (BEAT) regulations┬áto defer reporting requirements for qualified derivative payments (QDPs) until the 2025 tax year. What is BEAT? In 2017, BEAT was passed to discourage U.S. and foreign corporations from dodging tax liability by shifting profits out of the U.S. It basically works as a …

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