Tax compliance in the aftermath of the Tax Cut & Jobs Act will not be simple or straightforward.
U.S. companies have not relinquished their liquidity buffers or their habit of keeping cash in ultra-safe investment vehicles.
In addition, they remain extremely conservative about how they "invest" excess cash.
The IRS and Treasury rush to clarify uncertainties about repatriation of offshore earnings.
The new tax cuts will make winners out of companies with big deferred tax liabilities and losers of those with large tax assets, an expert forecasts.
Corporations look forward to a 21% tax rate and immediate expensing of short-lived capital investments.
While their companies would benefit big time, many CFOs will likely experience an increase in their annual income tax liabilities.
