David Rosenbloom Discusses "Corporate Integration" Plan with Law360
Meetings on tax reform between congressional leaders and administration officials may include proposals to integrate corporate and individual income tax laws to prevent double taxation of corporate income.
. . .
According to H. David Rosenbloom, a tax attorney at Caplin & Drysdale, Chtd. who previously served as a tax policy adviser to the U.S. Department of the Treasury, World Bank, OECD and the International Monetary Fund, companies in the past have been reluctant to endorse integration because it puts a fair amount of additional pressure on corporations from their shareholders to make distributions.
“That used to be a prevalent view [about] 20 years ago,” Rosenbloom said. “The business community was solidly opposed because they wanted to have the flexibility of dealing with corporate profits at the corporate level and not have their shareholders clamoring to receiving a distribution.”
To view the full article, please visit Law360’s website (subscription required).
Excerpt taken from the article “’Corporate Integration’ Plan May Be Part of Tax Reform Talks” by Vidya Kauri for Law360.