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Corporations with private fleets in the U.S., as well as for-hire carriers, have begun ordering faster than before. As the economy continues to strengthen, this trend will continue to grow and so will the need to replace aging equipment.

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<b><i>Will Your Company Be Prepared?</b></i><p>FATCA is an effort by the United States to curb tax evasion and incentivize Foreign Financial Institutions (FFI) to report the overseas assets of U.S. persons. The U.S. encourages compliance by imposing a 30% withholding penalty on all U.S. source income and sale proceeds of non-compliant foreign financial institutions.

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Substantive non-consolidation opinion letters have long been a regular "check-the-box" item in large commercial real estate transactions. While substantive consolidation jurisprudence has not changed materially over the past decade, these opinion letters should not be treated lightly by borrowers or their counsel.

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<b><i>A Business Expense?</i></b><p>In negotiating FCA or similar settlements with the government, one key consideration is the tax treatment of any payment. While not in the context of deductibility, the Supreme Court this year, in<i>Kokesh v. SEC</i>, analyzed whether disgorgement in an SEC enforcement action was punitive or compensatory.

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Will big law firms and their partners benefit from the new Republican tax plan promoted by President Donald Trump? Not necessarily, according to tax experts who say some gains may be eroded by loss of crucial deductions.

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For tax professionals, particularly those who specialize in the area of state and local taxes, nexus is a topic that is discussed all too often. Nexus rules have lagged behind the ever-changing economic landscape, but states are beginning to catch up. Nonetheless, the nexus rules are very important for professional services firms such as law firms.

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A Southern California assemblyman on Monday shelved legislation that would have blocked cities from taxing streaming video services such as Netflix and Hulu.

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<i><b>How to Avoid the Tax Pitfalls of 26 U.S.C. §956 when Negotiating Lending Transactions for Clients with Foreign Country Operations</i></b><p>A popular conduit for operating in a foreign country is a controlled foreign corporation (CFC). In 2012, U.S.-controlled foreign corporation earnings topped $793 billion as the world economy became increasingly interconnected. See, IRS, Statistics of Income. How does the aforementioned trend impact the legal profession?