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Deductibility of Fines and Penalties: New Guidance Leaves Key Questions Unanswered

Proposed IRS regulations clarify when fines and penalties are deductible but leave important issues unresolved. The U.S. Internal Revenue Service has released proposed regulations clarifying when fines, penalties, and...more

U.S. Tax Reform Denies Deductions for Confidential Sexual Harassment Settlements

The recently enacted tax reform bill includes a provision that significantly affects how employers settle sexual harassment claims. Section 13307 of the Tax Cuts and Jobs Act provides that no deduction is permitted for...more

The U.S. Tax Cuts and Jobs Act: Fundamental Changes to Business Taxation

Signed into law December 22, 2017, the "Tax Cuts and Jobs Act" represents the most comprehensive reform to the U.S. federal tax code in a generation. The Act's most notable provisions include significant reductions in both...more

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