Articles

  • 1 week ago | news.bloomberglaw.com | Michael Rapoport

    EmailApril 18, 2025, 9:25 PM UTCBusiness advocates and advisers welcomed the government’s move to claw back its previous plans to get tougher on a type of transaction that helps complex partnerships. But lots of questions remain about what happens next. The Treasury Department and the IRS said Thursday they were scrapping plans first announced last year to crack down on basis-shifting transactions involving related parties in partnerships.

  • 1 week ago | news.bloombergtax.com | Michael Rapoport

    XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.

  • 1 week ago | news.bloomberglaw.com | Michael Rapoport

    The Treasury Department and the IRS are scrapping plans to crack down on a maneuver that benefits complex partnerships. The agencies said late Thursday in Notice 25-23 that they were withdrawing a June 2024 IRS notice laying out plans to issue regulations aimed at stopping basis-shifting transactions in related-party partnerships.

  • 1 week ago | news.bloombergtax.com | Michael Rapoport

    XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.

  • 2 weeks ago | news.bloombergtax.com | Michael Rapoport

    Businesses and tax practitioners are worried that Australian authorities will make it too hard for multinational companies to get exemptions from new tax-disclosure requirements. Transparency advocates fear they’ll make it too easy. Australia enacted its new rules on public country-by-country tax reporting last year, but it left open some aspects of when and how companies could avoid disclosing parts of their tax information because it’s “commercially sensitive” or for other reasons.

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Michael Rapoport
Michael Rapoport @rapoportmike
21 Mar 25

New by me, from Bloomberg Tax: Business groups are pushing back against Donald Trump's plan to use other countries' value-added taxes as a reason to slam them with US tariffs. @tax https://t.co/AyIUjdrPVt

Michael Rapoport
Michael Rapoport @rapoportmike
3 Mar 25

I am enjoying #Oscars2025, which is a good thing because at this rate it looks like the ceremony is going to last till around July.

Michael Rapoport
Michael Rapoport @rapoportmike
20 Nov 24

Coca-Cola has reserved for only a small amount of its potential $16 billion IRS bill - and it's not alone. My Bloomberg Tax deep dive into how some companies don't have enough reserves for what they may owe, and what it may mean for investors. @tax https://t.co/3lRmGsUunr