The number of SEC comment letters has been declining for nine consecutive years. During the first nine months of 2018, 2,174 letters were filed1 (831 CORRESPs and 1,343 UPLOADs) – a decrease of 40% from the 3,629 letters that were … Continue reading
Category Archives: Tax
New Tax Cut Law Is Complicating Fourth Quarter Earnings Data
The Tax Cut & Jobs Act law (TCJA) passed in a rush late last year is complicating how companies release their fourth quarter earnings data. The sweeping changes will significantly affect most large companies, and many of them took different … Continue reading
Tax Cuts and Jobs Act – Which Companies are Affected and by How Much?
The Tax Cuts and Jobs Act, passed into law in December 2017, is going to significantly affect the amount of taxes on income paid by U.S. companies. The major provisions of the Act include a drop in corporate tax rate … Continue reading
Repatriation Tax Holiday: A “one-time” thing?
One of the points of the business tax plan that President Trump campaigned on was a provision that would permit companies to repatriate earnings held overseas at a one-time reduced rate of 10%: “It will provide a deemed repatriation of corporate … Continue reading
Tax Implications of IRFE Repatriation
Benjamin Franklin once noted that “in this world nothing can be said to be certain, except death and taxes.” While this maxim is perfectly applicable to mere mortals, public companies, at least in theory, can live on indefinitely. (According to … Continue reading
Untaxed Foreign Earnings top $2.3 Trillion in 2014
Note: This post has been updated to reflect a correction of an error. The total disclosed amount of indefinitely reinvested foreign earnings – which are not subject to US corporate income tax – continues to increase. From about $1.1 trillion … Continue reading
Tax Changes and Foreign Entities
Large multinational companies generate revenue from multiple regions, and have assets and employees throughout the world. Recently, there has been an uptick in the number of U.S.-based companies reincorporating abroad in ‘domiciles of convenience’ to benefit from various tax and … Continue reading