Increased government spending and tax cuts are “keeping the country on track to record its biggest annual deficit in six years."
A 21% income tax rate might sound appetizing to some pass-through entities, but C-corporation status doesn't suit every organization.
Many observers, as well as virtually all companies, favor a big cut. But how great is the potential for unintended consequences?
Though they sound good for corporate America, CFOs need to read the fine print of the Trump administration and House of Representatives proposals.
Close to 500 firms that received a comment letter regarding tax disclosures increased their provision for income taxes the following year.
The proposal would require companies to disclose the aggregate of cash, cash equivalents, and marketable securities held by foreign subsidiaries.
A GAO report prepared for Bernie Sanders shows two-thirds of corporations paid no federal income tax in a six-year period.
