Washington Dispatch - October 2006

U.S. Legislative Developments -- Tax Technical Corrections Act of 2006 -- International Tax Simplification Act of 2006 -- Joint Committee on Taxation Report on "Tax Gap" -- U.S., Belgium Initial Income Tax Treaty -- U.S., Iceland Initial Tax Treaty -- U.S.-UK Agreement on Dual Consolidated Losses -- IRS Notice 2006-85 Shutting Down "Killer B" Transactions -- Final Section 752 Regs on Disregarded Entities -- IRS Proposed Regs on RIC Foreign Source Reporting -- IRS Legal Memo on Cross-Border Financial Instruments