A tax reform proposal now being considered by Congress could mean financial hardship for the nation’s largest law firms and outsized tax bills for those firms’ partners, according to business experts.
Draft legislation released in late November by Senate Finance Committee Chairman Max Baucus (D-Mont.) includes a fundamental revision to the way large law firms and other professional service firms report and pay their taxes. A draft bill in the House, first circulated in March, includes a similar provision.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
