Robert E. McKenzie quoted in Law360 article regarding tax bill
Arnstein & Lehr Chicago Partner Robert E. McKenzie was quoted in a Law360 article published on February 11 titled, “Tax Overhaul Bill Could Wreak Havoc on BigLaw.” The article discusses the Tax Reform Act of 2013, and how congress is requiring large law firms to switch to the accrual method of accounting. This could result in firms borrowing money to pay federal taxes as well as uncertainty in fiscal and ethical responsibilities. Bob comments on the accrual method, and why it works for the manufacturing industry rather than the service business industry. To view a PDF of the full article, please click here.
For those with Law360 subscriptions, view the article online here.