Tax Bill Guidance Continues to Focus on Repatriation In the few months since the Tax Cuts and Jobs Act (TCJA) was signed into law, the IRS has released three important items of guidance relating to the transition tax on foreign... Read More
Carried interest has been a target of politicians in recent years. In the first episode of Private Equity 360, Bob Woosley interviews Tax Partner Bryce Nations to learn about how the new tax law impacts carried interest. Available on iTunes,... Read More
One casualty of the new tax law was thought to be the deduction for interest paid on home equity loans. The language of the bill was vague, and the conference report simply states, “…the Conference agreement suspends the deduction for... Read More
The first topic the IRS tackled in guidance regarding the new tax law is how corporate taxpayers should compute and pay the “transition tax” on the untaxed earnings of foreign subsidiaries. In exchange for the lower 21% corporate tax rate... Read More
It is hard to believe, but the Tax Cuts and Jobs Act passed by Congress in December left out many key expiring tax provisions, the so-called “extenders.” Instead, Congress included the extenders in H.R. 1892, the Bipartisan Budget Act of... Read More
Bitcoins and other virtual currency are on the national radar with articles and commentary offered every day on their increasing use and on the government’s attempts to regulate the cryptocurrency market. No agency is more interested in the rise of... Read More
Reducing the high U.S. corporate tax rate was a key driver for enacting the Tax Cuts and Jobs Act (TCJA), Public Law 115-97. The most significant change is the reduction in the corporate tax rate to 21% from 35% and... Read More
The Tax Cuts and Jobs Act (TCJA) takes effect this year. The big question now is what are the big changes and how do they affect taxpayers with different situations? More tax cut than tax reform, the measure is expected... Read More
Just before year-end in 2017, President Trump signed into law the Tax Cuts and Jobs Act, Public Law 115-97, with massive tax cuts of $1.5 trillion over the next decade. The changes affect all individuals and every type of business... Read More
While Congress eliminated the Affordable Care Act’s individual mandate, that doesn’t impact the employer requirements. The IRS is ramping up its efforts to enforce penalties against large employers who do not provide adequate health insurance plans. Employers with 50 or... Read More
