The economic landscape in 2022 was driven by the Federal Reserve's steadfast commitment to combating high inflation with fast-paced monetary tightening. The Fed's efforts have resulted in a challenging investment period for both stocks and bonds. A balanced global portfolio with 60% stocks and 40% bonds was down approximately -20% through the end of October. Expectations are for the Fed to continue its restrictive policy for the near future, which leaves investors facing a challenging backdrop including a potential global recession and slowing economic growth.

The U.S. Inflation Reduction Act (IRA) allocates nearly $80 billion in new funding to the Internal Revenue Service (IRS). More than $45 billion of that amount is dedicated to compliance enforcement efforts with additional amounts for operations, systems modernization, and taxpayer service. The substantial increase in IRS enforcement funding, along with technology investments, is expected to result in additional scrutiny of transfer pricing arrangements. Multinational entities should take steps now to support their transfer pricing positions and explore opportunities for advance tax certainty.

Andersen Managing Director Joe Calianno's comments were included in the recent Tax Notes article, IRS Appears to Favor Aggregate CFC Adjustment for Corporate AMT.

Tightly-aligned corporate/educational partnership designed to meet the professional development needs of Andersen's global workforce.

Andersen Global further advances its expansion efforts across Brazil and Europe through a Collaboration Agreement with Rolim, a comprehensive legal firm with offices in São Paulo, Rio de Janeiro, Belo Horizonte and Brasília.

Andersen is proud to announce the promotion of 23 Managing Directors across 11 offices nationwide.

Law 360 recently spoke with Andersen Global Chairman and Andersen CEO Mark Vorsatz to discuss the Big Four's new strategies to make a splash in the legal sector and how Andersen Global is paving the way for non-law firms to gain a competitive edge.