News Updates

Review Reporting Obligations for Foreign Accounts and Investments

U.S. taxpayers should review reporting obligations for foreign accounts and foreign investments to avoid civil and criminal penalties. U.S. taxpayers have information reporting obligations with respect to holdings in foreign accounts as well as non-U.S. investments....

Bipartisan Budget Act of 2018 includes Extensive Tax Provisions

On February 9, Congress passed and President Trump signed into law the Bipartisan Budget Act (BBA) of 2018. While the main aim of the legislation was avoiding a government shutdown by increasing government spending limits and raising the debt ceiling, the BBA contains...

2018 Tax Reform: Key Individual Provisions

The Tax Cuts and Jobs Act (The Act) has been characterized as the first major reform of the Internal Revenue Code in 31 years. The legislation slashes the top corporate tax rate to 21%, lowers the top marginal rate for individual taxpayers to 37%, eliminates or scales...

New Depreciation and 179 Provisions

Epact 179D and 45L Building Energy Incentives Extended for 2017 On February 9, 2018 the President signed into law the Bipartisan Budget Act of 2018. The bill provides a one-year retroactive extension of Sections 179D and 45L energy tax incentives for certain property...

Impact of Recent Tax Reform on the Private Equity Industry

On December 22, 2017 President Trump signed the Tax Cuts and Jobs Act (the “Act”) which will have a far reaching impact on private equity funds, their investors and portfolio companies. The following is a summary of key provisions of the Act that will affect private...

Tax Reform Bill: House Version vs. Senate Version

This is a follow up to our earlier communication which is intended to summarize at a “high level” some of the more important items where Congress needs to reconcile their respective bills (House passed Nov. 16. and Senate on Dec. 2nd). We focused on some of the...

Congratulations to Our New Managing Principal and Chairman

Miller Cooper congratulates Kristen Fitzpatrick on her promotion to Managing Principal and Ross Pearlstein on his promotion to Chairman of the Firm. Ross Pearlstein had served as Managing Principal since 2001. Ross continues as a member of the Firm’s Executive...

Senate Reform Plan: What to Know

The following is a very high-level summary of the description of the Tax Cut and Jobs Act released by the Senate Finance Committee on November 9th (including subsequent amendments). Although draft bills will go through changes and compromises (the House voted on and...