• Login
    • Advanced search
    • Title
    • Channel
    • Module
  • Home
  • Client Solutions
    • Digital Transformation
    • Energy Transition
    • Supply Chains
    • Sustainability and ESG
    • Workforce Redesign
  • Sectors
    • Consumer Goods & Retail
    • Energy, Mining & Infrastructure
    • Financial Institutions
    • Healthcare & Life Sciences
    • Industrials, Manufacturing & Transportation
    • Technology
  • Learning Resources
    • Podcasts
    • Video Chats
    • Webinars
  • Area of Law
    • Antitrust & Competition
    • Artificial Intelligence
    • Banking & Finance
    • Capital Markets
    • Cybersecurity & Data Privacy
    • Data & Technology
    • Dispute Resolution
    • Employment & Compensation
    • Environment & Climate Change
    • Financial Services Regulatory
    • Inclusion, Diversity & Equity
    • Intellectual Property
    • International Commercial & Trade
    • Investigations, Compliance & Ethics
    • Mergers & Acquisitions
    • Pensions
    • Private Equity
    • Projects
    • Real Estate
    • Restructuring & Insolvency
    • Tax
  • Location
    • International

    • International
    • Asia Pacific

    • Australia
    • China
    • Hong Kong
    • Indonesia
    • Japan
    • Malaysia
    • Myanmar
    • South Korea (Korea, Republic of)
    • Singapore
    • Taipei
    • Thailand
    • Philippines
    • Vietnam
    • EMEA

    • Austria
    • Bahrain
    • Belgium
    • Czech Republic
    • Egypt
    • EU
    • France
    • Germany
    • Hungary
    • Italy
    • Kazakhstan
    • Luxembourg
    • Morocco
    • Netherlands
    • Poland
    • Portugal
    • Qatar
    • Russian Federation
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Türkiye
    • Ukraine
    • United Arab Emirates
    • United Kingdom
    • North America

    • Canada
    • United States
    • Latin America

    • Argentina
    • Brazil
    • Colombia
    • Chile
    • Mexico
    • Peru
    • Venezuela
Baker McKenzie InsightPlus Home
      • Title
      • Channel
      • Module
    • Hit ENTER to search in content
    • Advanced search
    • Login
  • Home
  • Client Solutions
    • Digital Transformation
    • Energy Transition
    • Supply Chains
    • Sustainability and ESG
    • Workforce Redesign
  • Sectors
    • Consumer Goods & Retail
    • Energy, Mining & Infrastructure
    • Financial Institutions
    • Healthcare & Life Sciences
    • Industrials, Manufacturing & Transportation
    • Technology
  • Learning Resources
    • Podcasts
    • Video Chats
    • Webinars
  • Area of Law
    • Antitrust & Competition
    • Artificial Intelligence
    • Banking & Finance
    • Capital Markets
    • Cybersecurity & Data Privacy
    • Data & Technology
    • Dispute Resolution
    • Employment & Compensation
    • Environment & Climate Change
    • Financial Services Regulatory
    • Inclusion, Diversity & Equity
    • Intellectual Property
    • International Commercial & Trade
    • Investigations, Compliance & Ethics
    • Mergers & Acquisitions
    • Pensions
    • Private Equity
    • Projects
    • Real Estate
    • Restructuring & Insolvency
    • Tax
  • Location
    • International

    • International
    • Asia Pacific

    • Australia
    • China
    • Hong Kong
    • Indonesia
    • Japan
    • Malaysia
    • Myanmar
    • South Korea (Korea, Republic of)
    • Singapore
    • Taipei
    • Thailand
    • Philippines
    • Vietnam
    • EMEA

    • Austria
    • Bahrain
    • Belgium
    • Czech Republic
    • Egypt
    • EU
    • France
    • Germany
    • Hungary
    • Italy
    • Kazakhstan
    • Luxembourg
    • Morocco
    • Netherlands
    • Poland
    • Portugal
    • Qatar
    • Russian Federation
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Türkiye
    • Ukraine
    • United Arab Emirates
    • United Kingdom
    • North America

    • Canada
    • United States
    • Latin America

    • Argentina
    • Brazil
    • Colombia
    • Chile
    • Mexico
    • Peru
    • Venezuela
  1. Tax
  2. United States: Notice 2023-80 - When the US tax code meets Pillar Two

United States: Notice 2023-80 - When the US tax code meets Pillar Two

Tax News and Developments December 2023
21 Dec 2023    1 minute read
    • Share by email
    • Share on
    • Twitter
    • LinkedIn
    • Facebook
    • Google plus
    • Get link
    • Get QR Code
    • Download
    • Print
Pillar Two Tax Featured Content

In brief

On 11 December 2023, Treasury and the IRS issued Notice 2023-80 (the "Notice"), which represents the US government’s first attempt to address the US federal income tax implications of Pillar Two. The Notice provides guidance on certain foreign tax credit and dual consolidated loss issues that arise in the context of Pillar Two. The Notice also extends the period of relief for the 2021 final foreign tax credit regulations until more guidance is issued. John Barlow, Rafic Barrage, Ethan Kroll, Sam Pollack and Steven Smith analyze the guidance in Notice 2023-80: When the US Tax Code Meets Pillar Two, as first published in the December 2023 issue of Tax Management International Journal.


Contents

To read Notice 2023-80: When the US Tax Code Meets Pillar Two, please click here.

Contact Information
John D. Barlow
Partner
Washington, DC
Read my Bio
john.barlow@bakermckenzie.com
Rafic Barrage
Principal at BakerMcKenzie
Washington
rafic.barrage@bakermckenzie.com
Ethan Kroll
Partner
Los Angeles
Read my Bio
ethan.kroll@bakermckenzie.com
Samuel Pollack
Partner
Chicago
Read my Bio
samuel.pollack@bakermckenzie.com
Steven Smith
Associate
San Francisco
Read my Bio
steven.smith@bakermckenzie.com

Copyright © 2025 Baker & McKenzie. All rights reserved. Ownership: This documentation and content (Content) is a proprietary resource owned exclusively by Baker McKenzie (meaning Baker & McKenzie International and its member firms). The Content is protected under international copyright conventions. Use of this Content does not of itself create a contractual relationship, nor any attorney/client relationship, between Baker McKenzie and any person. Non-reliance and exclusion: All Content is for informational purposes only and may not reflect the most current legal and regulatory developments. All summaries of the laws, regulations and practice are subject to change. The Content is not offered as legal or professional advice for any specific matter. It is not intended to be a substitute for reference to (and compliance with) the detailed provisions of applicable laws, rules, regulations or forms. Legal advice should always be sought before taking any action or refraining from taking any action based on any Content. Baker McKenzie and the editors and the contributing authors do not guarantee the accuracy of the Content and expressly disclaim any and all liability to any person in respect of the consequences of anything done or permitted to be done or omitted to be done wholly or partly in reliance upon the whole or any part of the Content. The Content may contain links to external websites and external websites may link to the Content. Baker McKenzie is not responsible for the content or operation of any such external sites and disclaims all liability, howsoever occurring, in respect of the content or operation of any such external websites. Attorney Advertising: This Content may qualify as “Attorney Advertising” requiring notice in some jurisdictions. To the extent that this Content may qualify as Attorney Advertising, PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME. Reproduction: Reproduction of reasonable portions of the Content is permitted provided that (i) such reproductions are made available free of charge and for non-commercial purposes, (ii) such reproductions are properly attributed to Baker McKenzie, (iii) the portion of the Content being reproduced is not altered or made available in a manner that modifies the Content or presents the Content being reproduced in a false light and (iv) notice is made to the disclaimers included on the Content. The permission to re-copy does not allow for incorporation of any substantial portion of the Content in any work or publication, whether in hard copy, electronic or any other form or for commercial purposes.

Delete Comment ?

Are you sure want to delete comment ?

Get link
Embed
Share by email
Get QR Code

Scan this QR Code to share this content

  •  
  •  
  •  
HighQ
Copyright Baker McKenzie 2025 | Disclaimers | Supplemental Privacy Statement