Eversheds Sutherland Tax Reform Law Blog
content top

Senate Tax Bill Differs from House Bill in Treatment of Multinationals

The Senate recently released the legislative text of their version of the tax bill. The bill defers in several key respects from the House bill in its treatment of the income of multinational companies, particularly in the way that it addresses global intangible low-taxed income, foreign derived intangible income, and base erosion. The Senate vote could occur as early as November 30th....

White House Officials State Willingness to Sacrifice Health Care Provision for the Tax Reform Greater Good

The White House Budget Director, Mick Mulvaney, indicated that the Trump Administration is willing to strike the health care provision in the Senate’s proposed tax legislation repealing the requirement that everyone in the U.S. have health insurance or pay a fine. Striking this provision would leave the Senate $338 billion short of their revenue goal and would require Republican...

Senate Finance Committee Approves Republican Tax Reform Proposal

On November 16, 2017, by a partisan 14-12 vote, the Senate Finance Committee approved the Senate GOP’s version of the tax reform plan, which differs from the proposed House bill, after adoption of Chairman Orrin Hatch’s manager’s amendment.  Legislative language will now be drafted and taken up for vote by the full Senate following Thanksgiving. Senate Finance Committee Approves GOP...

House Passes the Tax Cut and Jobs Act

The House voted to pass H.R. 1, the Tax Cuts and Jobs Act, that passed through committee last week without further amendment. Read the bill as passed here.

Legal Alert: A Comparison of the Energy Tax Changes in the Proposed House and Senate Tax Reform Bills

View the Eversheds Sutherland Legal Alert summarizing the principal proposals in the Senate Plan that impact the energy sector, and the meaningful differences from the House Plan, here.

Legal Alert: Reconciling the Differences, the Senate Tax Cuts and Jobs Act

View the Eversheds Sutherland Legal Alert summarizing the principal proposals in the Senate Plan and discussing the most significant differences from the House Plan here.

Senate Tax Plan Will Include Repeal of the Affordable Care Act’s Individual Mandate

Finance Committee Chairman Orrin Hatch recently revised the Senate tax proposal to include a repeal of the Affordable Care Act’s individual mandate. Recent revisions also made many of the tax cuts for individuals temporary. Corporate tax cuts remain permanent. These changes were made so that the tax proposal would comply with the Senate’s Bryd Rule, which prevents legislation that...

Legal Alert: Tax Cuts and Jobs Bill Update: Major Insurance Industry Changes

View the Eversheds Sutherland Legal Alert discussing the insurance provisions of the amended House version and the Senate tax reform plans here.

Legal Alert: The Tax Cuts and Jobs Act, Take Two: A Methods-Based Comparison of the Senate and House’s Tax Reform Plans

View the Eversheds Sutherland Legal Alert comparing accounting method issues in the House and Senate versions of H.R. 1 here.

Orrin Hatch to introduce Senate tax reform bill amendments changing 401(k), IRA classifications

The Senate Finance Committee has released a full list of the proposed amendments to the Tax Cuts and Jobs Act currently under consideration. Chairman Senator Orrin Hatch will present several amendments to the Senate’s tax reform bill during the mark up. His proposal includes a provision allowing publicly traded companies to deduct up to 12.5% of dividends paid to shareholders from...

Legal Alert: The State and Local Tax Implications of Federal Tax Reform

View the Eversheds Sutherland Legal Alert discussing state and local tax issues under H.R. 1 here.

Legal Alert: Sometimes Smaller is Better – How H.R. 1 Offers Small Business Welcome Flexibility

View the Eversheds Sutherland Legal Alert discussing the small business provisions of H.R. 1 here.

House Bill Passes Out of Committee; Senate Releases Policy Highlights in Advance of Release of Proposed Tax Legislation

The House Ways and Means Committee finished their markup of the Tax Cuts and Jobs Act and voted to advance the bill. The House plans to vote on the proposed bill next week. The Senate Committee on Finance released a summary highlighting the policy underpinnings for the Senate’s version of the Tax Cuts and Jobs Act. Now that the House Ways and Means Committee has finished the markup...

Legal Alert: Tax Cuts and Jobs Bill: Major Insurance Industry Changes

View the Eversheds Sutherland Legal Alert discussing the insurance provisions of H.R. 1 here.

Ways and Means Committee Amends the Tax Cuts and Jobs Act

On Monday, the House Ways and Means Committee approved an amendment offered by Kevin Brady to the proposed tax reform bill. The amendment revises the rules targeting the international base erosion by providing a foreign tax credit, among other items. This amendment also imposes an additional holding period requirement for capital gain on carried interest, increasing the holding period...


« Older Entries