Tax
The U.S. Tax Reform and the Energy Sector
Insight
Reforms in the U.S. tax code proposed being considered in Congress could have significant implications for the energy industry in the U.S., and worldwide, according to an article published on the website of Hogan Lovells.
How a Tax Code Overhaul May Affect You
Insight
Despite what President Trump promised about simplifying the tax code when he was on the campaign trail, tax simplification isn’t a simple task, writes Charles Delafuente of The New York Times.
A Tax Overhaul Would Be Great in Theory, But Hard in Practice
News
Decisions that lawmakers made decades or even a century ago have essentially locked us into ways of doing things, as the cost of changing looms more heavily than the potential benefits of trying something different, writes Neil Irwin for The New York Times.
IRS Rolls Out New Compliance Campaigns for Large Businesses
News
The Internal Revenue Service’s Large Business and International division is taking a new approach to tax compliance, with a series of 13 campaigns aimed at cracking down on tax evasion, reports Accounting Today.
Stradley Ronon Lands Patent Attorney from Pepper Hamilton
News
Stradley Ronon announces thatpatent attorney Paul K. Legaard, Ph.D., has joined the firm as a partner in its Malvern, Pennsylvania, office. He was most recently a partner at Pepper Hamilton.
Former CBS General Tax Counsel Alvan L. Bobrow Joins Akerman in New York
News
Former CBS Inc. vice president and general tax counsel Alvan L. Bobrow has joined Akerman LLP in the firm’s Tax Practice Group with. He joins Akerman’s New York office as a partner from Mayer Brown LLP, where he served as the leader of the national state and local tax group.
Tillerson’s $180M Exxon Exit Plan Has $72M Tax Advantage
News
Rex Tillerson exit plan from Exxon Mobil Corp. might let him avoid an immediate federal income tax bill of as much as $72 million, reports Bloomberg.
The Major Potential Impact of a Corporate Tax Overhaul
News
With the U.S. House, Senate and presidency all soon to be in Republican hands and with all agreeing that a major tax bill is a top priority, some kind of change to the American taxation system appears likely to happen, according to The New York Times.
Tax Implications for Investors in the Era of Price Fluctuations
Insight
Michael A. Silva and Vince Slusher write that investors who own shares in companies and partnerships that are suffering from the hard times in the oil patch will face an ever-bigger headache thanks to the tax consequences of the price drop.
If Republicans Repeal Health Law, Paying For A Replacement Could Be Tough
News
Leading Republicans in Congress have vowed that even if they repeal most of the Affordable Care Act early in 2017, a replacement won’t hurt those now receiving benefits, reports NPR.
For Trump Tax Cuts, Pay Legal and Other Bills In 2016
News
Trump’s plans make paying expenses in 2016 especially attractive if you can deduct them. The deductions may be worth a lot less in 2017, writes Robert W. Wood for Forbes
Startup Company Carve-Out Plans: Mechanics, Tax Obstacles, and Optimization
Event, Nov. 2, 1 p.m. EDT
Startups love using equity to incentivize executives and employees. But when a company’s equity isn’t worth what it used to be–and particularly when stakeholders no longer expect there to be significant upside–companies need to find new ways to incentivize management to achieve desired outcomes.
Obama Takes Aim at U.S. Corporations Shifting Profit Overseas
News
Reuters is reporting that U.S. regulations, proposed by the Treasury to crack down on companies that try to reduce taxes by rebasing abroad, have begun a White House review and could be finalized shortly.
Beware of the Tax Traps of Employer-Owned Life Insurance Contracts
Insight
In closely held businesses, it is common practice to provide for the succession of the business upon the death of an owner, writes Mitchell Goldberg of Berger & Singerman.
Treasury Strikes Back: Proposed Regulations Target Valuation Discounts for Family Businesses
Insight
The Treasury Department has released proposed regulations that seek to eliminate valuation discounts for interests in family-controlled entities, according to an Arnold & Porter article.
Why Apple’s $14.5 Billion Tax Fine Is Worse for Shareholders Than it Looks
News
A European tax commission said Apple more than $14.5 billion in back taxes and interest that it had avoided paying European governments for years because of a sweetheart deal with Ireland, reports Fortune.
Webinar: Navigating New Proposed IRS Regulations
Event, August 9, 2 p.m. EDT
Practical Law will present a complimentary webinar on 409A and 457 regulations proposed by the Internal Revenue Service.
Trends in New Business Entities: 30 Years of Data
Insight
Limited Liability Companies, or LLCs, are now the most popular legal entity for organizing businesses in the United States, according to a new report issued by Berkman Solutions.
U.S. Tax Agency Investigates Facebook’s Ireland Asset Transfer
News
The tax authority is examining whether Facebook understated its U.S. income by selling rights to an Irish subsidiary too cheaply, reports Reuters.
Civil and Criminal International Tax Enforcement Update
Event, June 22
The International Tax Controversy Update is an annual event where private and government tax professionals to discuss current events and best practices relating to International Tax Enforcement and Voluntary Disclosures.
