ANALYSIS: Deducting ‘Going Private’ Expenses

In November of Year 1, the board of directors of “Company” (C) decided to “explore strategic alternatives,” including a sale of C.

An “exclusivity agreement” (with “Sponsors”) was…

House Members Raise Bipartisan Questions over Obama’s Call to End LIFO Accounting

House Ways and Means members crossed party lines in Feb. 3 budget hearings to criticize the Obama administration’s proposal to raise an additional $59 billion in tax revenues by eliminating firms’ ability to use the…

International Tax Proposals in FY 2011 Budget Seek to Strike Balance, Geithner Says

Treasury Secretary Timothy Geithner Feb. 3 said the international tax proposals in the administration’s fiscal year 2011 budget are intended to address aspects of…

Obama Creates Interagency Task Force to Expedite Carbon Capture at Power Plants

President Obama announced Feb. 3 the creation of an interagency task force charged with speeding up the development of technologies to capture and store carbon emissions from coal-fired power plants that…

EPA Issues Final Rule Outlining Fuels That Qualify as Renewable under Energy Law

The Obama administration released a final rule Feb. 3 on determining what biofuels meet the renewable fuels standard, part of a federal effort to meet a target of tripling the amount of ethanol and other biofuels in the…