Cadwalader attorneys examined guidance issued by the Internal Revenue Service concerning a provision in the 2017 Tax Cuts and Jobs Act that made changes to the deduction limitations for certain executive compensation.
The Structured Finance Industry Group submitted comments to the Internal Revenue Service regarding the application of new provisions of the Internal Revenue Code affecting middle-market collateralized loan obligations and other securitizations.
The Internal Revenue Service withdrew and re-proposed certain portions of centralized partnership regime regulations that have not been finalized to reflect the changes in the 2018 Technical Corrections Act.
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation released interagency guidance on the accounting and reporting implications of the new tax law.
The U.S. Senate version of the Tax Cuts and Jobs Act contains provisions that will substantially alter tax treatment for corporations and partnerships. As the Conference Committee attempts to reconcile the two versions, Cadwalader attorneys summarize the key Senate provisions.
The U.S. Department of the Treasury released a report recommending actions to reduce certain tax regulatory burdens. "Pending enactment of tax reform," Treasury recommended retaining core elements of related party debt regulations on tax-free stock distributions.