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Revamping U.S. Taxation of Multinational Corporations?

By Amanda Wilson on Jul 22, 2015 in Congress, government, International, S Corporation

By: Amanda Wilson The Obama administration and top lawmakers are in discussions regarding a potential overhaul of how the United States taxes U.S. multinational corporations. Topics under consideration include eliminating the U.S. approach of taxing...

Halving the Built-in Gain Period?

By Amanda Wilson on Jul 7, 2015 in government, IRS, S Corporation

By: Amanda Wilson Following up on my February post (found here) discussing a proposal to reduce the built-in gain period for S corporations, this proposal is one step closer to becoming a reality. The S Corporation Modernization Act of 2015, H.R....

House Expected to Tie Infrastructure and Tax Reform Together

By Amanda Wilson on Jul 6, 2015 in government, International, S Corporation, Tax

By: Amanda Wilson In a July 2nd statement, the House Ways and Means Committee indicated that they intend to tie much needed highway funding to their goal of tax reform. Particularly, corporate tax reform. It is unclear whether the Republicans will...

Shortening the Built-in Gains Period?

By Amanda Wilson on Feb 12, 2015 in Congress, government, International, IRS, S Corporation, Tax

By: Amanda Wilson An S corporation is a popular tax vehicle, as it allows for a single layer of tax instead of the double layer of tax imposed on regular corporations. Instead of the S corporation paying tax, the taxable income of the S corporation...