On March 9, 2023, the Treasury Department released the General Explanations of the Administration’s Fiscal Year 2024 Revenue Proposals (sometimes called the Green Book) to accompany President Joe Biden’s proposed budget for...more
3/20/2023
/ Biden Administration ,
Corporate Taxes ,
Estate Tax ,
Federal Budget ,
Gift Tax ,
GILTI tax ,
Green Book ,
Income Taxes ,
International Tax Issues ,
Partnerships ,
Property Tax ,
Retirement ,
Tax Reform ,
U.S. Treasury
The G7’s support for OECD-backed tax reforms could mark a big step toward a more consistent, revamped global tax scheme — depending on the details and whether it is actually adopted. ...more
On May 28, 2021, the Treasury Department released the General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals (sometimes called the Green Book) to accompany President Joe Biden’s proposed budget for FY...more
6/15/2021
/ Biden Administration ,
Capital Gains Tax ,
Corporate Taxes ,
Energy Tax Incentives ,
GILTI tax ,
Green Book ,
Income Taxes ,
International Tax Issues ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Reform
Many of the core provisions in the Tax Cuts and Jobs Act (TCJA) — including the corporate tax rate reduction and the fundamental reworking of the U.S. international tax regime — were geared toward addressing the uncompetitive...more
1/25/2019
/ Acquisitions ,
Base Erosion and Anti-Abuse Tax (BEAT) ,
Corporate Taxes ,
Cross-Border Transactions ,
GILTI tax ,
Inversion ,
Mergers ,
Multinationals ,
Tax Cuts and Jobs Act ,
Tax Rates ,
Tax Reform
On March 21, 2018, the European Commission released a draft legislative package for “fair taxation of the digital economy,” which would establish new tax rules for digital business activities within the European Union. This...more
3/27/2018
/ Business Profits ,
Digital Single Market ,
Digital Taxes ,
Double Taxation ,
Economic Presence Nexus ,
EU ,
EU Single Market ,
European Commission ,
Gig Economy ,
Member State ,
OECD ,
Tax Reform ,
Tax Treaty
After several years of hearings and forums intended to develop broad-based support for comprehensive tax reform, on February 26, 2014, House Ways and Means Committee Chairman David Camp (R-Mich.) released a draft tax reform...more
4/22/2014
/ Accounting ,
Alternative Minimum Tax ,
Corporate Taxes ,
Debt Restructuring ,
Derivatives ,
Financial Products ,
Foreign Tax ,
Internal Revenue Code (IRC) ,
Partnerships ,
Subpart F ,
Tax Credits ,
Tax Reform ,
Ways and Means Committee
Three significant international tax reform proposals in the United States have been released in the past three years: the International Tax Reform Discussion Draft released by House Ways & Means Committee Chairman Dave Camp...more
On November 19, 2013, Sen. Max Baucus (D-Mont.), Chairman of the Senate Finance Committee, released a Staff Discussion Draft on International Business Tax Reform. The changes proposed in the discussion draft are far-reaching...more