Biden’s “Undertaxed Profit Rule” Would Complete US Adoption of BEPS Pillar 2
President Biden’s 2023 budget would replace the current 10 percent base erosion anti-avoidance tax (BEAT) on US subsidiaries of foreign corporations with a 15 percent...
View ArticleInflation and Oil Price Spikes Revive Case for LIFO Repeal
The recent runup in oil prices and general inflation have boosted tax benefits from the “last-in, first-out” (LIFO) inventory accounting tax break. LIFO tax expenditures,...
View ArticleTCJA Led Foreign-Owned Corporations to Retain More Earnings in the US
Corporate tax reforms introduced by the 2017 Tax Cuts and Jobs Act (TCJA) encouraged foreign-owned US companies to reinvest more of their earnings here, according...
View ArticleHow The Senate-Approved Corporate Minimum Tax Works
The House is set to consider final passage of the Inflation Reduction Act (IRA) later this week, following months of negotiations over President Biden’s Build Back Better agenda. To help fund the...
View ArticleShould Congress Extend Bonus Depreciation?
Although Congress managed to reach a year-end topline spending agreement, it left many tax questions unanswered heading into 2023. One is considering whether to allow...
View ArticleStock Buyback Excise Taxes: What We Know And Don’t Know
Companies now spend more than a $1 trillion annually to repurchase their stock, in lieu of paying higher dividends to their shareholders, or investing more...
View ArticleA Rundown of Biden’s Proposed Changes To The Taxation Of Foreign Income
As expected, President Biden’s 2024 proposed budget included several changes to the tax treatment of foreign income. Although prior attempts to rewrite these tax rules...
View ArticleUnderstanding R&D Tax Breaks and Reform Options
In recent years, businesses have been able to fully deduct expenses related to research and development (R&D) in the year the investment was made (often...
View ArticleThe Future Of Commercial Real Estate And Big City Budgets
More than three years after the beginning of the COVID-19 pandemic, the shift to remote work for many office workers has put the future of...
View ArticleA Primer On The OECD’s Global Minimum Tax And How It Could Affect The US
Following release of the Organisation for Economic Co-operation and Development’s (OECD’s) model global minimum tax rules in December 2021, European Union member states and many...
View Article
