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Legal Update

Tax Reform & Government Settlements—New Restrictions and Reporting Requirements to Consider During Settlement Negotiations

29 December 2017
Mayer Brown Legal Update
H.R. 1, the “Tax Cuts and Jobs Act,” makes several changes affecting the deductibility of settlement payments to governments and certain non-government entities. These changes affect how taxpayers should approach settlement negotiations with the government. This Legal Update discusses the effect of these changes on a few key settlement deductibility questions, issues these changes raise for taxpayers and best practices to minimize those risks.

Authors

  • Brian W. Kittle
    T +1 212 506 2187
  • Geoffrey M. Collins
    T +1 212 506 2633
  • David F. Abbott
    T +1 212 506 2642
  • Hayden D. Brown
    T +1 704 444 3512
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