Cost control initiatives and a general rebound within the energy industry has led to a significant uptick in M&A activity. This uptick in M&A has also increased the potential risk of these companies inadvertently acquiring significantly aged unclaimed property.
In a recent panel discussion, Stephen Shay, former U.S. Treasury deputy assistant secretary for international tax affairs, warned U.S. corporate taxpayers that they should no longer assume that their tax strategies will remain secret. He cited recent congressional hearings featuring testimony by Apple Corp. CEO Tim Cook as an example of how a company’s tax strategies could become subject to public scrutiny.
This budget resolution is intended to provide the framework for work to begin on tax reform in the House through budget reconciliation instructions, so the delay in scheduling a markup of the budget resolution presents another serious challenge to the advance of comprehensive tax reform.
There is divided opinion in Washington about whether the firing of FBI Director Comey and the related investigations of Russian contacts with Trump campaign personnel will make tax reform and health care reform more difficult.
Amazon’s decision to file everywhere has many of its third party sellers wondering how this will impact them. The short answer? It doesn’t—at least not yet. But it could.