A review of the week's major US international tax-related news. In this edition: US supports OECD Pillar 1 proposals as ‘safe harbor’ – IRS rules target's capitalized transaction costs do not create separate and distinct intangible asset – UK leaves EU on 31 January 2020, begins transition period – OECD Inclusive Framework on BEPS meets on Pillar 1 and 2 proposals.