Identifying obscure but potentially costly tax issues is a skill. Solving them in the context of our client’s goals is an art, and one that Paul, Weiss practices at the highest level. Working closely with the Corporate and Restructuring Departments, our tax lawyers help clients solve problems, avoid pitfalls and uncover hidden value in all types of transactions.
Highlights of Rangel's 2007 Tax Reform Bill
October 26, 2007 Full PDF
On October 25, 2007, House Ways and Means Committee Chairman Charles Rangel unfurled his 129 page tax reform bill (H.R. 3970, the Tax Reduction and Reform Act of 2007), which generally would raise individual tax rates, lower corporate tax rates and repeal the existing alternative minimum tax. The revenue to offset these changes is obtained mostly from a surtax on high-income individuals, but the bill also imposes tax increases on managers of investment funds.