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Jeff A. Kieckhafer
12750 High Bluff Drive,
Suite 160
San Diego, CA 92130
Gregory A. Fletcher
U.S. Bancorp Tower
111 SW Fifth Avenue, Suite 1850
Portland, OR 97204
UPDATE: Portland Metro Council Votes to Refer Payroll Tax to November Ballot
On July 16, 2020, the Portland Metro Council unanimously voted to send a $7 billion transportation plan to the November ballot. This tax will impose…
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The State of Wayfair in 2020: State and Local Income Tax Implications Two Years After the Wayfair Decision
In 2018, the U.S. Supreme Court overturned the long-standing physical presence standard for sales-and-use tax nexus in South Dakota v. Wayfair (“Wayfair”). Since then, nearly…
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The Future of International Taxation: BEPS 2.0, DSTs, or What?
Even as regulatory guidance is still being issued by the U.S. Treasury, nearly 2-1/2 years after the enactment of sweeping changes to the international taxation…
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Determining the Accounting for Loans Under the Payroll Protection Program
The question has arisen regarding how to account for loans received by companies under the Payroll Protection Program (“PPP”) of the CARES Act as there…
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Additional Payroll Taxes Looming for Portland Metro Area Businesses
The Metro Council has recently outlined its plan to raise the necessary funds for the $7 billion “Get Moving 2020” transportation initiative that will be…
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Treasury Provides Welcome Grace Period and Transition Relief from Repeal of the “338 Approach” to Recognition of Built-in Gains (but the clock is ticking)
On January 14, 2020, the IRS and Treasury provided partial relief from their earlier announcement of the repeal of a highly favorable method of increasing…
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Treasury Releases Final Section 385 Regulations without Substantive Changes to the 2016 Proposed Regulations.
Internal Revenue Code (IRC) Section (§) 385(a) provides that the Secretary of the Treasury is authorized to prescribe regulations as may be necessary or appropriate…
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Companies Continue to Evaluate APB 23 Benefits After Tax Reform; Impact of COVID-19 Related Repatriations on the Indefinite Reinvestment Assertion
The general comprehensive rule for providing deferred taxes on book-tax basis differences under ASC 740-10 requires companies to record a deferred tax liability (DTL) for…
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Proposed Regulations Deny the Deductibility of Certain Fines, Penalties, and Other Amounts Under Section 162(f), and Impose Reporting Requirements
The IRS and Treasury released proposed regulations that offer guidance concerning the recent expansion of the limitations on deducting certain fines, penalties, and other amounts…
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Washington, Clackamas, and Multnomah Counties Pass 1% Tax on High-Wealth Individuals and Large Businesses to Fund Housing to Reduce Homelessness
On May 19, 2020, voters in Washington, Clackamas, and Multnomah counties approved Measure 26-210, which funds services, including health care, case management, job training, and…
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