Corporate taxes

There’s nothing like $1.5 trillion in tax cuts to help make friends at a gathering of conservative political donors.

Since I was at Davos last year there have been some seismic global changes, not least to taxation.

President Donald Trump said Friday that U.S. economic growth promoted by his policies would help the world, seeking to square his “America First” agenda with globalism.

The eye-popping $38 billion tax bill that Apple Inc. said it plans to pay on its mammoth pile of accumulated foreign earnings will probably hit federal coffers in an eight-year trickle, not a one-time torrent.

Opponents of the new corporate tax cuts were right. Many companies didn’t pay the full rate before the law passed—so they won’t see splashy reductions in 2018, according to their own estimates.

The short-term spending bill that President Trump signed into law Monday night includes provisions that delay or suspend three taxes mandated by the Affordable Care Act that have not yet taken effect.

Dual U.S.-Canadian citizen with private corporations need to pay attention.

The Business Roundtable, a lobbying group for American chief executives that’s seeking to bolster its clout in Washington, quadrupled spending in the last three months of the year compared to the same period a year earlier as it threw its support behind President Donald Trump’s tax bill.

Four more Staff Q&A documents deal with various financial accounting and reporting implementation issues.

The International Monetary Fund warned policymakers to be on guard for the next recession even as it predicted global growth will accelerate to the fastest pace in seven years as U.S. tax cuts spur businesses to invest.

The Treasury Department and the Internal Revenue Service have released a new notice giving multinational companies some extra guidance to help them calculate the “transition tax” on untaxed foreign earnings of foreign subsidiaries of U.S. companies under the Tax Cuts and Jobs Act.

The Financial Accounting Standards Board released a proposed accounting standards update Thursday to help organizations reclassify some of the stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act that President Trump signed into law last month.

European Union regulators reacted coolly to Apple Inc.’s move to repatriate hundreds of billions of overseas dollars to the U.S., saying “nothing has changed” in its order for the iPhone maker to pay back taxes to Ireland.

Fiscal-year companies and their accountants will have some calculating to do.

Farewell, Ireland: it looks like corporate America will finally bring that cash home.

GOP leaders in the House are testing whether rank-and-file Republicans will support a stopgap funding measure to keep the government open that also would delay some Obamacare taxes and provide money for a children’s health insurance program, lawmakers said.

Businesses—especially smaller firms—may scale back on treating clients to major league baseball games, golf outings and the like after Congress and President Donald Trump ended a tax break for such entertainment.

Wal-Mart Stores Inc. is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market.

Companies that stockpiled trillions of dollars offshore free of U.S. income tax may get one last break before paying up—provided their fiscal years don’t follow the calendar year.

For Big Oil, the U.S. tax overhaul is turning out to be a mixed bag, especially for companies that drill overseas.