corporate inversion

Obama’s Anti-Abuse Rules Slashed Inversions

This week, the Treasury Department finalized the last set of Obama-era regulations intended to curb tax-motivated corporate inversions. An inversion arises when a U.S. corporation...

July 13, 2018Steven M. Rosenthal

: TaxVox

Here a Tax Cut, There a Tax Cut

Wisconsin’s Paul Ryan will be House Ways & Means Chair for a while after all. The 2012 GOP Vice-Presidential nominee feels he is “ in a position to make a big difference ” and wants to remain on the tax-writing panel. Had he run for president in 2016, he would have had to give up his

January 13, 2015Renu Zaretsky

: TaxVox

Will Tax Reforming Be Forgot and Never Brought to Mind?

Congress is adjourned. The Daily Deduction will appear Mondays until it reconvenes. Could Dave Camp’s proposal and the corporate inversion debate prompt tax reform in 2015? TPC’s Bill Gale considers how they might shape developments in 2015. “Camp’s proposal provides the means to think seriously

December 29, 2014Renu Zaretsky

: TaxVox

On Residence, Retirement, and Economic Records

Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then. What’s a multinational to do? Where is it to go? Senator Dick Durbin and Senate Finance Committee Chair Ron Wyden seem pleased that Chicago-based AbbVie’s decided to drop its deal with Dublin

October 20, 2014Renu Zaretsky

: TaxVox

The Amazing [Anti-Inversion] Race

There’s tougher talk from Treasury. Secretary Jack Lew affirmed administrative authority to curb inversions, telling Bloomberg that “If Congress doesn’t act, we have to take the steps we can, which will reduce the economic value of inversions .” There’s more talk on the Hill, too. Senate Finance

September 10, 2014Renu Zaretsky

: TaxVox

Summer Blockbuster? Congress’ Week Is Tax-Action Packed

Another big inversion deal heads to closing. Pharmaceutical giant AbbVie agreed to purchase UK drugmaker Shire , making it the largest US company so far to move its address overseas for lower taxes. The deal, now estimated to be worth about $55 billion, will likely close despite any US action to

July 21, 2014Renu Zaretsky

: TaxVox

Permanent Breaks, Pharma Moves, Credits and Grace

Expect the House to approve some permanent changes in the charitable deduction this week. They include contributions of food inventory , real property for conservation purposes , and IRA distributions for charitable purposes. The measure would also allow individuals' charitable contributions made

July 15, 2014Renu Zaretsky

: TaxVox

Games, Spins, Ignorance and Patience

Congress keeps playing with the Highway Trust Fund—but why? The House Ways & Means Committee approved its effort to fund the Highway Trust Fund through May, 2015. To reach a bipartisan deal, the Senate Finance Committee ultimately took a slightly different approach in a $10.8 billion proposal

July 11, 2014Renu Zaretsky

: TaxVox

Multinational Machinations, Big Soda, and the Phone

Maybe Chicago is not their kind of town. Five Chicagoans, all Walgreen board members, need to decide whether to pack up and move the company’s headquarters to Europe. Walgreen is in the second stage of its merger with Swiss-based Alliance Boots that could slash Walgreen’s tax bill by over $780

July 8, 2014Renu Zaretsky