JD Supra

Senate Updates Code Section 899

On Monday, 16 June 2025, the Senate Finance Committee released its version (the Senate Proposal) of the Section 899 retaliatory tax provisions that also are included in the “One Big Beautiful Bill Act ...
JD Supra

Proposed IRC section 899 ‘revenge tax’ targets residents of certain discriminatory/offending foreign countries

On June 16, 2025, the Senate Finance Committee released its proposed version of the “One Big Beautiful Bill Act” (the Senate Bill). The House of Representatives passed its version of the bill on May ...
Yahoo

Lawmakers remove ‘revenge’ tax provision from Trump's big bill after Treasury Department request

Treasury Secretary Scott Bessent talks to reporters about his lunch meeting with Republican senators and the schedule for getting the Republican megabill to President Donald Trump's desk by July 4, at ...
NBC Connecticut

‘Collateral damage': Fund managers lobby Congress over Section 899 to avert foreign investors leaving the U.S.

American fund managers are lobbying Congress over a provision tucked inside President Donald Trump's tax bill that they say could lead to foreign investors "quickly" pulling investments out of the U.S ...
Detroit News

Lawmakers remove ‘revenge’ tax provision from Trump's big bill after Treasury requests its removal

Washington — Congressional Republicans agreed to remove the so-called revenge tax provision from President Donald Trump’s big bill Thursday after Treasury Secretary Scott Bessent asked members of ...
Newsday

Lawmakers remove 'revenge' tax provision from Trump's big bill after Treasury Department request

WASHINGTON — Congressional Republicans agreed to remove the so-called revenge tax provision from President Donald Trump’s big bill on Thursday after a request by Treasury Secretary Scott Bessent. The ...