tax break

In this episode of tax break, Steve and Loren discuss the final FDII regulations from July 2020 with Sharon Heck, Treasurer and Chief Tax Officer at Intel.

They discuss several aspects of the business that have been affected by FDII, and policy discussion underscoring the importance of the provision now and going forward:

• Practical considerations (supply chain considerations, corollary to GILTI, impact to M&A transactions)
• Policy considerations (Biden tax proposals – Made in America, R&D innovation and incentivization, impact of impending R&D amortization provision)

Thanks to our guest, Sharon Heck: https://www.linkedin.com/in/sharonlheck/ 

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Questions? Contact us at podcasts@milchev.com.

tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.

tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you'll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

This week, Steve and Loren discuss the final FDII regulations from July with Jeff Tebbs, International Tax Counsel at Lockheed Martin. They cover:

• Allocation of R&E expenses, which Treasury did not address
• Finalized regulations treating 250(b) as operative under 861 allocation and apportionment rules
• Sales of general property that primarily contain digital content
• How final regulations relax documentation and substantiation requirements 

Thanks to our guest Jeff Tebbs for joining us: https://www.linkedin.com/in/jtebbs/ 

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Questions? Contact us at podcasts@milchev.com.

tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.

tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Apple Podcasts: https://apple.co/2WAZXPy 

Spotify: https://spoti.fi/2T9wJVW 

Google Podcasts: https://bit.ly/3639emF 

Stitcher: https://bit.ly/2Tpals3 

On this episode, hosts Loren Ponds and Steve Dixon discuss with our esteemed guest, Andy Howlett (Tax Member at Miller & Chevalier), some of the finer points of Section 199A. 

Section 199A is a newly enacted provision of the Tax Cuts and Jobs Act and represents Congress's attempt to harmonize the tax treatment of corporate and pass-through entities. We will explore the policy behind its enactment, some nuances of its operation, and potential pitfalls for the unwary

Thanks to our guest Andy Howlett for joining us: https://www.millerchevalier.com/professional/andrew-l-howlett

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Questions? Contact us at podcasts@milchev.com.

tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.

tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Apple Podcasts: https://apple.co/2WAZXPy 

Spotify: https://spoti.fi/2T9wJVW 

Google Play: https://bit.ly/3639emF 

Stitcher: https://bit.ly/2Tpals3 

In this episode, Loren and Steve discuss the APA, what it means for Treasury Regulations, and the APA issues presented in the Altera case.

The Supreme Court just denied Altera's petition for certiorari, which was unfortunate because it presented some important questions about how the APA applies to Treasury Regulations. Moreover, the Supreme Court's landmark DACA decision clarified some APA principles that would have been relevant to the issues in Altera. We'll discuss the APA and its relevance to the fight over the cost-sharing regulations in Altera.

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Questions? Contact us at podcasts@milchev.com.

tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.

tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Apple Podcasts: https://apple.co/2WAZXPy 

Spotify: https://spoti.fi/2T9wJVW 

Google Play: https://bit.ly/3639emF 

Stitcher: https://bit.ly/2Tpals3 

In this episode of tax break, hosts Loren Ponds and Steve Dixon are joined by guest Kevin Kenworthy (Chair of Miller & Chevalier's Tax Department) to discuss the upshot of the district court's decision in Microsoft's transfer-pricing case as it pertains to claims of work-product protection and section 7525 in the context of transfer pricing and international tax planning.

Microsoft lost its fight to protect tax and transfer pricing planning documents from government discovery in litigation over Microsoft's cost-sharing arrangement. There were 174 documents that Microsoft withheld on claims of work-product protection and section 7525 privilege. The district court rejected all of those claims, most notably with a wholesale rejection of any claims to the section 7525 privilege over documents prepared by Microsoft's accounting firm on the grounds that the accounting firm's planning was not protected because it was "in connection with the promotion of the direct or indirect participation of the person in any tax shelter." We discuss, in turn, the district court's analysis of Microsoft's work-product and section 7525 privilege claims.

Thanks to our guest Kevin Kenworthy for joining us: https://www.millerchevalier.com/professional/kevin-l-kenworthy

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Questions? Contact us at podcasts@milchev.com.

tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.

tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Apple Podcasts: https://apple.co/2WAZXPy 

Spotify: https://spoti.fi/2T9wJVW 

Google Play: https://bit.ly/3639emF 

Stitcher: https://bit.ly/2Tpals3 

In this episode of tax break, hosts Loren Ponds and Steve Dixon conclude their discussion of a couple of notable issues raised by the final and proposed base erosion and anti-avoidance tax (BEAT) regulations issued under section 59A at the end of last year. (The first part of this discussion can be heard in Episode 2.)

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Questions? Contact us at podcasts@milchev.com.

tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.

tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Apple Podcasts: https://apple.co/2WAZXPy 

Spotify: https://spoti.fi/2T9wJVW 

Google Play: https://bit.ly/3639emF 

Stitcher: https://bit.ly/2Tpals3 

In this episode of tax break, hosts Loren Ponds and Steve Dixon discuss a couple of notable issues raised by the final and proposed base erosion and anti-avoidance tax (BEAT) regulations issued under section 59A at the end of last year.

*********

Questions? Contact us at podcasts@milchev.com.

tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.

tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Apple Podcasts: https://apple.co/2WAZXPy 

Spotify: https://spoti.fi/2T9wJVW 

Google Play: https://bit.ly/3639emF 

Stitcher: https://bit.ly/2Tpals3 

In the first episode of tax break, hosts Loren Ponds and Steve Dixon are joined by guest Jorge Castro (Member at Miller & Chevalier and former Counselor to the IRS Commissioner) to discuss the tax relief packages that Congress has already enacted and what to expect from forthcoming relief packages.

TOPICS DISCUSSED:

• The prospects for tax legislation pre-pandemic
• The four packages enacted thus far
• CARES Act business tax provisions
• Prospects for the inclusion of tax provisions in future relief packages

FIND OUT MORE:

Miller & Chevalier's Coronavirus Task Force: https://www.millerchevalier.com/practice-area/coronavirus-task-force

Thanks to our guest Jorge Castro for joining us: https://www.millerchevalier.com/professional/jorge-e-castro

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Questions? Contact us at podcasts@milchev.com.

tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.

tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting. Subscribe to tax break wherever you get your podcasts.

Apple Podcasts: https://apple.co/2WAZXPy 

Spotify: https://spoti.fi/2T9wJVW 

Google Play: https://bit.ly/3639emF 

Stitcher: https://bit.ly/2Tpals3 

tax break is a podcast about tax law, brought to you by Miller & Chevalier and hosted by Steve Dixon and Loren Ponds. We'll provide you with perspective on select tax issues that will go deeper than what the tax press covers, but not so deep that you’ll have to pull out your regulations or read treatises to follow along. The aim of tax break is to focus only on the tax law issues that we find interesting.

Questions? Contact us at podcasts@milchev.com.

tax break is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.

Steve Dixon has been litigating federal tax cases for corporate and individual taxpayers for over 16 years. Mr. Dixon has represented Fortune 500 taxpayers in high-profile trials before the Tax Court (including a multi-billion-dollar transfer-pricing case in that venue), the Court of Federal Claims, and in federal district court. He has been recognized as a Tax Controversy Leader by International Tax Review as well as in Legal 500 United States for tax controversy. View Steve's full bio here: https://www.millerchevalier.com/professional/steven-r-dixon

Loren Ponds centers her practice on providing strategic counsel to clients on legislative, regulatory, and other tax policy issues, as well as advising on technical tax matters related to transfer pricing and other international tax topics. She advises clients on the impacts of tax policy, such as the implementation of the TCJA, and issues related to technical corrections, administrative guidance, and legislative amendments to various provisions. View Loren's full bio here: https://www.millerchevalier.com/professional/loren-c-ponds

Learn more about Miller & Chevalier's Tax practice: https://www.millerchevalier.com/practice-area/tax