State of Play on US Tax Proposals
By EsqSocial Corporation 27/03/24
A House bill adopted in January 2024, H.R. 7024 (the Bill), would extend some business-friendly tax provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) that were being, or have already been, phased out. Titled the “Tax Relief for American Families and Workers Act of 2024,” the Bill would temporarily restore deductibility of research and experimental (R&E) expenditures, raise the cap on the deduction of business interest expense and accelerate depreciation for some categories of purchased...
By: Skadden, Arps, Slate, Meagher & Flom LLP