Every Tuesday in May, Jennifer Spang is taking over the podcast to share the latest on income tax accounting — recent global and US tax policy developments, standard setting activity, and tax accounting considerations related to common transactions, such as business combinations and spin-offs.To kick off the series, Heather Horn and Jenn are joined by Pat Brown, the co-leader of PwC's Washington National Tax Services practice, to share insights on the OECD and the US minimum corporate tax legislation. In this episode, you’ll hear discussion of:2:09 - An overview of OECD’s Pillar Two model rules4:30 - The status of Pillar Two’s enactment in various jurisdictions10:48 - The differences between the US corporate alternative minimum tax and the OECD Pillar Two minimum tax20:58 - The response from the FASB and IASB to the accounting implications of Pillar Two enactment27:45 - What companies can do now considering the uncertainty of enactment of Pillar Two37:54 - The different treatment of tax credits under the Inflation Reduction Act and Pillar Two 56:19 - Final advice for organizations on global tax policyFor more information, read our publications on what you need to know about Pillar Two, the responses from standard setters, and accounting for the Inflation Reduction Act. Jennifer Spang is PwC’s National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Pat Brown is PwC’s Washington National Tax Services co-leader. Prior to joining PwC, he spent 16 years in the private sector, including a role as the director of tax policy for a Fortune 50 company. Pat has also served in the US Treasury’s Office of Tax Policy as an attorney-advisor and as Associate International Tax Counsel. Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.