Caleb Harshberger

President Donald Trump’s worldwide tariffs are shifting longstanding incentives for companies to house ownership of valuable intellectual property and other functions overseas—and practitioners say they should start crunching the numbers to see if it’s time for a change.

GE Aerospace expects the global minimum tax to cost the company $100 million in 2025, according to financial filings Tuesday.

The IRS is moving ahead with a settlement on a more than $2 billion tax dispute with pharmaceutical company Bausch Health over tax losses it claimed after liquidating a subsidiary in 2017, the company said in a financial filing.

McKesson Corp.'s case against the IRS and its cost-sharing regulations is the latest salvo against the agency’s rulemaking power—and one that could have financial implications for companies around the country.

The call by US lawmakers to impose new retaliatory taxes on foreign-owned companies is a strategic move to give the Trump administration leverage to shield American companies from the global minimum tax framework.

The United States Council for International Business is supporting the Treasury Department’s current efforts to keep the US tax system separate from a global tax deal, the group’s tax committee said in a letter.

Industry groups are calling on the IRS and Treasury Department to revoke or revise a wide swath of agency guidance that they say would hurt businesses.

Transfer pricing has made unaccustomed appearances in executive suites and earnings calls this season, with analysts peppering company officers with questions about their intercompany dealings—and even getting a few answers back.

Business groups are taking their shot at transfer pricing rules they call invalid and bad for business, looking to the Trump administration’s deregulation drive for relief.