How Will the New Tax Law Affect M&A?

After months of protracted wrangling, Congress delivered major tax reform with the passage of the “Tax Cuts and Jobs Act” (“Act”). Effective at the start of 2018, the Act includes tax breaks for individuals, as well as a massive tax cut for corporations and qualifying pass-through entities. There are always plenty of business and financial


IRS to Focus on Offshore Earnings in 2017 Audits

Last week, federal law enforcement officials executed a high profile raid of Caterpillar to investigate accusations of international tax fraud. Regardless of the merits of the case against Caterpillar, the raid may have been meant to send a broader message to multinational companies that the United States will scrutinize strategies to shift income to lower


How Corporate Inversions Give Foreign Acquirors a Comparative Advantage

The current US corporate tax regime has created an unintended incentive for corporations founded in the US to redomicile overseas—a so-called corporate inversion.    To make matters worse from a US perspective, the current corporate inversion rules effectively give foreign acquirers a pricing advantage over US corporations who are potential acquirers. As we have previously explained,