Tax Bill’s Widening Revenue Hole Threatens 20% Corp. Rate


David Noren said a proposed tax bill provision to give corporations a partial credit for foreign taxes paid while retaining the excise tax “raises relatively little money and yet it’s still going to be a real pain in terms of the complexity that the tax-writing staff … the IRS … and taxpayers are going to have to deal with. [It] doesn’t really make anyone happy and yet it also doesn’t really raise very much money.”