Barbara Angus, Tom Neubig, Eric Solomon & Mark Weinberger (all of Ernst & Young and former officials in the Treasury Department's Office of Tax Policy) have published The U.S. International Tax System at a Crossroads, 127 Tax Notes 45 (Apr. 5, 2010). Here is the abstract:

In a special report published exclusively in Tax Notes, four senior tax leaders of Ernst & Young LLP and Ernst & Young Global — all former Treasury officials — caution that the U.S. international tax system stands at a crossroads. It is outdated, overly complicated, and increasingly ineffective in supporting the goals of either government or businesses in today's competitive global marketplace.

While everyone from policymakers to practitioners to taxpayers agrees that changes are needed, the agreement ends there. The form, scope, and aim of any changes remain the subject of vigorous debate.

The authors outline key facts and perspectives that should be considered as part of a full and thoughtful discussion on what might be the most advantageous international tax system for the United States in the globally integrated economy.

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