Partner in Levenfeld Pearlstein's Tax Planning & Litigation group, John Buckun was quoted in a front page Wall Street Journal article. The article, titled "Tax Rule Changes Ripple Widely" discusses the Treasury Department's new rules which will force many firms to change their internal financing strategies. According to the article: "The Treasury Department's new corporate rules will reach far beyond the few companies that moved their legal addresses to low-tax countries, forcing many firms based in the U.S. to change their internal financing strategies and tax planning."
John talks about the end of leveraged distributions, “Everyone is scrambling and thinking of workarounds,” he said. “Everyone is really surprised.”
The full article can be viewed here: Tax Rule Changes Ripple Widely