Unfair Tax Prevention Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsors
- 25
- Latest action
- Mar 27, 2025
What it does
The Unfair Tax Prevention Act would amend the Internal Revenue Code to modify how the base erosion and anti-abuse tax (BEAT) applies to certain foreign-owned entities connected to jurisdictions that impose extraterritorial taxes. It would treat such entities as applicable taxpayers under BEAT, adjust timing rules by replacing a fixed date with the enactment date of the amendment, exclude certain deductions and calculations from BEAT applicability, and treat 50% of their cost of goods sold as a base erosion tax benefit. The changes would apply to taxable years beginning after the date of enactment and affect foreign-owned corporations linked to extraterritorial tax regimes through ownership…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.