Sen. Baucus Unveils Plan To Overhaul Corporate Tax System

Law360, New York (November 19, 2013, 6:48 PM EST) -- Senate Finance Committee Chairman Max Baucus on Tuesday unveiled a package of reforms aimed at overhauling the nation's corporate tax system, though chances are slim that the plan, which delves into the murky world of international taxation, will pass a partisan Congress, experts said.

Baucus' long-awaited plan would eliminate a loophole that allows American companies to defer payment of U.S. taxes on income earned by foreign subsidiaries. The proposed changes are also intended to strengthen international tax rules to make it more difficult for companies to...
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