Federal Tax
Presto Change-o: Unwinding Transactions in the Face of Uncertainty
It’s all about the rescission doctrine
With tax reform on the horizon, many companies are actively considering how the various proposals could impact their business and how they should structure their operations. However, many companies do not want to go all in and pull the trigger on a transaction based on what may amount to an… Read more »
Effective NOL Planning in Light of Tax Reform
Can your company unlock the value of net operating loss carryforwards to reduce future taxable income?
Under current tax rules, a corporation can generally carry back a net operating loss (NOL) to the two preceding taxable years and carry it forward up to the twenty taxable years following the loss to offset 100 percent of federal taxable income and ninety percent of the alternative taxable income.… Read more »
Congress Pivots From Health Care to Tax Reform
Ultimate outcome on taxes in 2017 still up in the air
Benjamin Franklin is frequently credited with saying that there’s nothing certain in life except death and taxes. I would suggest an addendum to this adage for 2017: another certainty is the steady drumbeat of news stories claiming that tax reform is imperative and imminent. Years of hearings, commissions, white papers,… Read more »
Section 199 and Cloud Software: Clearing the Fog
Are you up-to-date on current Treasury regs?
The domestic production activity deduction under Section 199 of the Internal Revenue Code of 1986, as amended (hereinafter “Section 199”), provides a deduction equal to nine percent of the lesser of taxable income or income attributable to certain qualified production activities. For the 2016 fiscal year, this deduction was estimated… Read more »
Are Tax Insurance Proceeds Taxable? Tax insurance has emerged as a cornerstone of corporate tax…
OBBBA Modifications to US Taxation of International Income The One Big Beautiful Bill Act (OBBBA), which was signed…
How Does Conformity Impact State Revenues After the OBBBA? State conformity with the Internal Revenue Code (IRC) refers to…
Are Research Credit Interviews and Write-Ups Obsolete? Upon joining a Big Four firm in Washington, D.C.—then known…
Janelle Gabbianelli According to Janelle Gabbianelli, her first job was the catalyst…
Why Co-Sourcing Tax Technology Is Your Best Bet In today’s complex regulatory landscape, tax departments are being pushed…