Lawmakers on Capitol Hill will start the new year with momentum on major tax reform proposals — including a provision that could pose a financial hardship for large law firms and hit partners with outsized tax bills.
Senate Finance Committee Chairman Max Baucus (D-Mont.) this month expects to receive public comments on draft legislation that would mark a fundamental change to the way large law firms and other professional service firms report and pay their taxes. A similar provision was included in a draft bill first circulated in March by Rep. Dave Camp (R-Mich.), chairman of the House Ways and Means Committee. Camp has called America’s tax system “broken.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
