tax break Miller & Chevalier

With the action by Liberty Global in November of last year, we have the first challenge to the validity of the Temporary Regulations under section 245A. We discuss those regulations and some of the arguments we will see in that case. 


Topics discussed:
1. The section 245A deduction, the “GILTI donut hole,” and what the Temporary Regulations do to address that “donut hole”
2. Liberty Global’s complaint
3. Assessment of Liberty Global’s arguments that the Temporary Regulations are invalid


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Questions? Contact us at podcasts@milchev.com.


tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.


tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Loren and Steve will discuss the tax proposals included in the American Jobs Plan, which are meant to fund large infrastructure investments the Biden administration plans to make.


Topics addressed will include proposed modifications to the GILTI, BEAT, and FDII regimes, as well as new provisions like the minimum tax on book income and a carrot/stick approach to addressing U.S. multinationals’ onshoring and offshoring activities.


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Questions? Contact us at podcasts@milchev.com.


tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.


tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

In this episode, Loren and Steve speak with Mike Cragg from The Brattle Group about economics and transfer pricing valuations. 


Over time, the modes of economic valuation for transfer pricing purposes have become predictable and sometimes rote. Are there other ways to skin the proverbial cat? On this episode, we discuss some possible novel approaches with Mike Cragg, an experienced economist and the Principal & Chairman at The Brattle Group. In particular, we’ll discuss the role that insights from antitrust economics and notions of minority discounts might play in transfer pricing valuations. 


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Questions? Contact us at podcasts@milchev.com.


tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.


tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Facebook is embroiled in a transfer pricing dispute with the IRS in Tax Court. This week on tax break, Steve and Loren conclude their discussion of what's at issue in the case. Listen to part 1 of the discussion in Episode 14.


Topics discussed:


Basics of the dispute

Whether aggregation of the three disputed royalties is reliable here

Pricing the Platform Contribution Transaction royalty

Challenge to validity of the -7T regulations

Nature of the User Base and associated royalty

Subsequent legal changes and changes to structure


*********


Questions? Contact us at podcasts@milchev.com.


tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.


tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

This week, Steve and Loren discuss the results of the joint Miller & Chevalier and National Foreign Trade Council 2021 Tax Policy Forecast Survey with Miller & Chevalier Tax Member Marc Gerson.


View the survey here: https://bit.ly/taxpolicy2021 


Topics discussed:


Genesis of the survey

Design of its questions

Expectations for results

Surprises in those results

Other observations on the results


Thanks to our guest, Marc Gerson: https://www.millerchevalier.com/professional/marc-j-gerson 


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Questions? Contact us at podcasts@milchev.com.


tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.


tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Facebook is embroiled in a transfer pricing dispute with the IRS in Tax Court. This week on tax break, Steve and Loren discuss what's at issue in the case.


Topics discussed:


Basics of the dispute

Whether aggregation of the three disputed royalties is reliable here

Pricing the Platform Contribution Transaction royalty

Challenge to validity of the -7T regulations

Nature of the User Base and associated royalty

Subsequent legal changes and changes to structure


*********


Questions? Contact us at podcasts@milchev.com.


tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.


tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.