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Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.

The Impact of Pending Tax Reform on Executive Compensation: The Need for Deductive Reasoning

by Latham & Watkins LLP on

Proposed US tax reform may impact the deductibility of executive compensation programs and companies should evaluate any potential tax planning opportunities in 2017 and the impact of the proposed changes going...more

Top 10 Topics for Directors in 2018

EXECUTIVE SUMMARY - 1. Cybersecurity threats. Cybersecurity preparedness is essential in 2018 as the risk of, and associated adverse impact of, breaches continue to rise. The past year redefined the upward bounds of the...more

To Accelerate or Not? Potential Tax Planning in Light of Proposed Reforms to Code Section 162(m)

by Proskauer - Tax Talks on

Under both the House and Senate versions of the Tax Cuts and Jobs Act, Internal Revenue Code Section 162(m) would be modified to expand the scope of companies and executive officers subject to the limitation on deductibility...more

Pass-Through Treatment: Don’t bite the hand that feeds most Americans!

by Foodman CPAs & Advisors on

According to the U.S. Bureau of Labor Statistics, the Professional and Business Services (PBS) industry sector accounted for 12.9% of jobs in the U.S. during 2016 as opposed to 7.9% for the Manufacturing Sector (MS). The...more

Tax-Exempts And Public Companies Beware – Major Changes To Executive Compensation Tax Rules Loom

by Jackson Lewis P.C. on

On December 2, 2017, the U.S. Senate passed its version of the Tax Cuts and Jobs Act (the “Senate Bill”). Our Benefits Law Advisors blog previously discussed some of the major provisions of a draft House of Representatives...more

Sleeper Issue? Deferred Tax Assets under a Trump Administration

by Bass, Berry & Sims PLC on

Update as of December 6, 2017: Congress and the President are nearing the finish line for significant tax reform with the likelihood of passing by the end of the year. Since it has the potential to significantly change the...more

Senate’s Tax Bill’s Impact on the Tax Equity Market: Five Differences from the House Bill

The US tax reform bill that the Senate passed on December 2, 2017—along partisan lines in a 51 to 49 vote—is a mixed bag for the tax equity market. The bill is now headed to the conference committee, consisting of House of...more

Senate Stays Up Late to Approve Tax Bill

Early in the morning on Saturday, December 2, 2017 (it was nearly 2 AM Eastern!), the Senate voted 51-49, drawn mostly along party lines, to pass its version of the tax reform bill described in our previous blog posts....more

Provisions—Spotlight on Property & Casualty Insurers

by McDermott Will & Emery on

A number of provisions included in the Senate’s tax reform bill, H.R. 1 (the Senate Bill) would impact the insurance sector. Many of the provisions would affect only the life insurance industry. Others affect property &...more

Senate Passes Tax Reform Bill

by Dechert LLP on

The U.S. Senate passed its version of the GOP tax reform bill, the Tax Cuts and Jobs Act (the “Senate Bill”), on Saturday, December 2, 2017. Shortly before approving the Senate Bill, the U.S. Senate adopted a Manager’s...more

Federal Tax Reform Bill Makes Significant Changes Related to Executive Compensation

by Davis Wright Tremaine LLP on

On November 16, the House of Representatives passed its version of the Tax Cuts and Jobs Act, and the Senate passed its version of the bill on December 2. Although the House and Senate must first reconcile their respective...more

Deemed Dividends Under Proposed Tax Reform

by Miles & Stockbridge P.C. on

2017 tax reform efforts may alleviate adverse deemed dividend tax treatment of foreign subsidiary support for the obligations of U.S. parent companies. Present support is limited to the pledge of 66 ?rds of the stock in...more

Update: Executive Compensation Ramifications of Proposed Tax Cuts and Jobs Act

by Latham & Watkins LLP on

Proposed tax reform legislation includes several provisions that will affect the treatment of executive compensation. Key Points: ..The current House and Senate bills remove the previously proposed Section 409B1 and...more

Congressional Tax Reform Proposals: Businesses Will Need to Rethink Key Decisions

by Latham & Watkins LLP on

Potential legislation would significantly affect businesses across a variety of sectors. Key Points: ..US House and Senate have each passed comprehensive tax reform legislation. ..Proposals would alter fundamental...more

UK Tax Round Up - November 2017

by Proskauer Rose LLP on

UK Tax News and Developments - The OTS publishes its report "Value added tax: routes to simplification" - On 7 November, the Office of Tax Simplification (OTS) published its first report on VAT, which included a range...more

The Tax Cuts and Jobs Act, Take Three: A Methods-Based Review of the Senate’s Initial Draft of Tax Reform Legislation

On November 2, 2017, the House Ways and Means Committee released a draft of the Tax Cuts and Jobs Act (the House proposal). On November 9, Senate Finance Committee (SFC) Chairman Orrin Hatch (R-UT) released a summary of the...more

2017 Year-End Federal Tax Reform Proposals

by Burns & Levinson LLP on

The proposed federal tax reform now being considered in Congress would make many changes after this year, if passed into law. The following areas are under consideration as of November 27, 2017 for domestic businesses,...more

Tax Reform Executive Summary – A 2-Pager on the 7 Things You Need to Know

Tax reform efforts, if successful, will have a major impact on virtually every business. There has been a great deal of reporting on the tax reform process and the proposed changes to the US Internal Revenue Code (IRC). This...more

“Philanthro-sales”: How the Tax-Bill Exception Could Provide a New Venue for Private Foundations

by Nilan Johnson Lewis PA on

Outside-the-box-thinking could give private foundations a reason to be excited about an obscure provision in the tax bills passed by the House and currently pending in the Senate....more

Comparison of the Executive Compensation Provisions in the Tax Cuts and Jobs Act

by Proskauer - Tax Talks on

On November 20, 2017, the Senate Finance Committee released legislative text of its version of the Tax Cuts and Jobs Act, which contains proposals modifying certain executive compensation provisions of the Internal Revenue...more

Worldwide Territoriality: International Tax Proposals Broaden the Base

On November 16, 2017, the House of Representatives passed a much anticipated tax reform bill, titled the Tax Cuts and Jobs Act (the House Plan), which was first introduced on November 2, 2017. The passage of the House Plan...more

Senate Finance Committee Releases Its Version of the Tax Cuts and Jobs Act

After releasing summaries and various Chairman's marks, the Senate Finance Committee ("SFC") approved its tax reform bill, the "Tax Cuts and Jobs Act," on November 16, 2017 and released the legislative text of the bill to the...more

Proposed tax legislation affecting private equity

by Dentons on

As you may be aware, on November 2 the House of Representatives introduced a comprehensive tax reform bill that could affect private equity sponsors, investors and portfolio companies. On November 9, the Senate Finance...more

2017 Year-End Estate Planning Advisory

by Katten Muchin Rosenman LLP on

The fourth quarter of 2017 concludes a unique year in the planning arena. With the new administration and a Republican-led Congress in power, both taxpayers and tax professionals have kept a close eye on the potential for tax...more

Tax Reform – Good or Bad for Family-Owned Businesses?

by Davis Wright Tremaine LLP on

At this point, no one knows exactly how or when changes to federal income tax, gift tax and/or estate tax will occur. What we do know now is that what has been proposed so far is likely not going to be the final product. So,...more

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