The Tax Exchange - August 2016

Deferred revenue treatment in loss transaction

The IRS recently provided guidance regarding the treatment of deferred revenue in a reverse merger transaction. In this transaction, the seller, a loss corporation, had deferred revenue obligations related to items of prepaid income.

What does Brexit mean for US multinationals? Keep calm and carry on.

The immediate impact of Brexit was clear on the financial markets as many world indexes posted double digit losses in the wake of the historic vote. As market jitters have calmed many are now focusing on the long-term consequences.