John T. Lutz
By Andrea Kramer, John T. Lutz, William R. Pomierski and Le Chen on Aug 6, 2021
Posted In Tax Reform
On August 1, 2021, the US Senate unveiled the draft text of the Infrastructure Investment and Jobs Act (Bill), a highly anticipated $1 trillion infrastructure package negotiated by the White House and a bipartisan group of senators. As discussed below, the Bill includes a provision (Section 80603) that, if enacted in its current form, would...
By Andrea Kramer, John T. Lutz, William R. Pomierski and Kevin Spencer on May 6, 2021
Posted In IRS Guidance, Tax Reform
On April 9, 2021, the Internal Revenue Service (IRS) released Chief Counsel Advice memo 202114020 (Hard Fork CCA), which details the potential tax consequences for taxpayers who held Bitcoin prior to the August 1, 2017, Bitcoin hard fork. While the Hard Fork CCA concerns the taxation of a particular cryptocurrency transaction, it has additional significance...
By John T. Lutz and McDermott Will & Emery on Dec 19, 2017
Posted In Tax Reform, Uncategorized
The Senate and House bills include provisions that place limitations on interest deductions for corporations. McDermott Tax partners Alexander Lee and John Lutz discuss several implications for US and US-based multinational corporations, including companies that will be adversely affected by the changes, debt limitations and tax efficiencies of offshore debt, and the changes in lending...