Shapiro Quoted in Bloomberg

Shapiro Quoted in Bloomberg
Corporate America in ‘Limbo’ as IRS Punts on Foreign Tax Issue
September 14, 2018
Laura Davison, Lynnley Browning and Allyson Versprille

David Shapiro, chair of the Firm's Tax Practice, is quoted in this Bloomberg article. The article discusses the Internal Revenue Service’s (IRS) proposed regulations which impact global intangible low-tax income (Gilti).

David comments on companies’ potential reaction to this change.

"Pass-through entities such as partnerships and limited liability companies could fare even worse than corporations under the Gilti tax, but they won’t want to restructure their business without knowing how the foreign tax credit guidance will work," said David. "That could create a rush of companies looking to reform as corporations after the regulations come out and before the end of 2018."

To read the full article, click here.