The digital economy, globalization, and tax competition have upended the traditional taxation of multinationals. In recent years, many countries have worked together under the auspices of the Organisation for Economic Cooperation and Development (OECD) to develop a new international tax framework built around two main pillars. Additionally, some countries have introduced new taxes specifically designed to tax multinationals in the new digital age. This brief provides an overview of those efforts and where the United States and US multinationals stand.