The Laterals Audit: Tax Attorney Moves In January

The Laterals Audit: Tax Attorney Moves In January

January 31, 2017, Law360

Law360 featured Ed McClellan’s addition to Covington’s Public Policy and Government Affairs practice in a round-up of notable tax attorney moves in January. According to McClellan, there is tremendous private sector interest in GOP plans to cut corporate tax rates, provide a 100 percent exemption for foreign earnings, allow full expensing of capital investments and realign the corporate tax code to a "border adjustment" scheme that taxes earnings based on where goods are ultimately consumed. He adds that the novelty of the border adjustment plan is likely to stoke the appetite for feedback of staffers tasked with writing the policy into law, since no operating model of the plan exists to spotlight potential unexpected challenges under the new system.