Legal Alert: SEC Staff Provides Disclosure and Accounting Guidance in Response to Recent Tax Reform Legislation
Posted on Dec 27, 2017
View the Eversheds Sutherland Legal Alert summarizing the guidance issued by the SEC Office of the Chief Accountant and the Division of Corporation Finance, in response to the recent tax reform legislation, regarding the information required to comply with ASC Topic 740, and the disclosure requirements under Item 2.06 of Form 8-K, which requires companies to reflect the impact of tax law changes in the quarter in which the law is enacted here.
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President Trump Signs Tax Bill into Law
Posted on Dec 22, 2017
President Trump signed the tax bill passed by the House and Senate this morning. The bill will be generally effective beginning January 1, 2018. Read the bill text here. Read more about the bill’s passage here.
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Legal Alert: The Tax Cuts and Jobs Act, Final Cut: A Methods-Based Review of the Tax Bill
Posted on Dec 20, 2017
View the Eversheds Sutherland Legal Alert discussing the particular provisions of the Final Tax Reform Bill that fall under the umbrella of income tax accounting and accounting methods, and the potential impact such reforms will have on corporate taxpayers, here.
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Title: Tax Bill Passes in House
Posted on Dec 20, 2017
House Republicans voted to pass the Senate’s revised version of the Tax Cuts and Jobs Acts today. Read More: House sends sweeping GOP tax bill to Trump’s desk
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Tax Bill Passes in Senate Wednesday Morning, House Expected to Vote (Again) Later Today
Posted on Dec 20, 2017
Senate Republicans voted to pass a revised version of the Tax Cuts and Jobs Acts early Wednesday morning. The House voted yesterday in favor of the legislation, however several minor provisions of the bill did not comply with Senate rules and had to be removed. The House is expected to vote on the revised version of the bill sometime today. Read More: Senate passes sweeping GOP tax bill, but House to vote again
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House Passes Revised Bill; Senate to Vote as Early as Tonight
Posted on Dec 19, 2017
The House has passed the Tax Cuts and Jobs Act, as revised by the Conference Committee, along party lines. The bill will now go to the Senate, who may vote as early as this evening. Should the bill pass both houses, it will be sent to President Trump to sign into law. Read more: House Passes Final Tax Bill; Senate Votes Next on Republican Plan
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Legal Alert: Tax Reform Provisions Affecting BDCs and Closed-End Funds
Posted on Dec 19, 2017
View the Eversheds Sutherland Legal Alert discussing important developments that may affect closed-end funds, including business development companies (BDCs), and the portfolio companies in which closed-end funds invest, in the Final Tax Reform Bill here.
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Legal Alert: Compensation and Benefits Provisions in the Final Tax Cuts Bill
Posted on Dec 19, 2017
View the Eversheds Sutherland Legal Alert focusing on key provisions affecting compensation and benefits in the Final Tax Reform Bill here.
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Legal Alert: Following the Senate’s Lead – The International Tax Provisions in the Final Bill
Posted on Dec 19, 2017
View the Eversheds Sutherland Legal Alert focusing on the international tax provisions in the Final Tax Reform Bill here.
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Legal Alert: Final Tax Reform Bill Released – What Does it Mean for the Energy Sector?
Posted on Dec 19, 2017
View the Eversheds Sutherland Legal Alert summarizing the principal provisions in the Final Tax Reform Bill that impact the energy sector here.
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Congress to Begin Voting on the Tax Cuts and Jobs Act Today
Posted on Dec 19, 2017
With the Conference Agreement finalized, the Agreement must be approved by both the House and Senate, and once approved, it will head to President Trump for his signature. The House is expected to vote later today, and the Senate will vote soon afterwards, either today or tomorrow. Read more: Tax Voting Starts Tuesday
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Conference Committee Agreement Released for Tax Cuts & Jobs Act
Posted on Dec 18, 2017
House and Senate Republicans unveiled their collective tax bill with the Conference Report and Agreement early Friday night. The text follows the Senate bill, but resolves differences between the Senate and House bills, and makes modifications and clarifications throughout. Republicans are expected to vote this week. Conference Report and Bill Read more: GOP unveils sweeping tax plan
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Conference Committee to Release Tax Bill and Report Tonight but Passage not Guaranteed
Posted on Dec 15, 2017
The conference committee has announced they will approved a conference report on the final version of the Tax Cuts and Jobs Act. The report and the bill text will be released tonight. The Republicans can only afford to lose two votes in the Senate in order to pass the final version. Senator Marco Rubio announced that he will not support the tax bill unless Senate Republicans are able to increase the refundable portion of the proposed child tax credit. In addition to Rubio causing concerns for the party, Senators Bob Corker and Susan Collins have withheld judgement until the final draft of...
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With a Consensus Tax Bill, Christmas May Come Early for Republicans
Posted on Dec 13, 2017
An agreement between Senate and House Republicans on a tax bill was finalized Wednesday morning. According to lawmakers and reports from aides, Senate and House Republicans have agreed to provisions including the following: • Corporate tax rate will drop from 35% to 21%, to go in effect in 2018. • Individuals will be allowed to deduct up to $10,000 in state and local taxes, split between property taxes and income or sales taxes paid. • Corporate alternative minimum tax will be rescinded. • The individual income tax rate will drop from 39.6% to 37%, however the threshold for this top rate...
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House-Senate Conference Committee Meeting on Republican Tax Reform Bill Held Today
Posted on Dec 13, 2017
The House-Senate Conference Committee met today to discuss the previously passed Senate and House versions of the Tax Cuts and Jobs Act. During this meeting the Chief of Staff of the Joint Committee on Taxation, Thomas Barthold, provided a brief overview of the key differences in the tax bills and answered questions regarding the two bills in question. This is the only such meeting of the House-Senate Conference Committee that will be held. Earlier today congressional Republicans reached a deal on a final version of the tax bill. Republicans expect to have a final vote on the bill next week....
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