Michael Mundaca serves as the co-director of Americas Tax Center and the National Tax Department at Ernst & Young (EY). A former assistant secretary for tax policy at the US Treasury Department, Michael Mundaca facilitates tax services for a wide range of clients.
A recent EY Americas Tax Center report drew attention to the Internal Revenue Service’s June 30, 2017, launch of detailed website information on country-by-country (CbC) reporting. Under US Treasury regulations, US multinationals’ parent entities with revenues equal to or exceeding $850 million must file Form 8975 to report a US multinational group’s income, taxes paid, and other indicators of economic activity on a country-by-country basis starting for the US multinational group’s first reporting period in the tax year that starts on or after June 30, 2016.
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