2017: A Happy New Year?



Peter Faber wrote this bylined article reflecting on 2016 and considering what 2017 will bring with a Trump presidency, including its effect on the recent final debt-equity regulations under IRC section 385, new federal rules regarding audits of partnerships and partners, and state false claims act matters. State and local taxation practitioners, Mr. Faber wrote, will have much to do in 2017 and he urged state revenue departments to “reach out to their contacts in the practitioner community who are familiar with the federal rules.”