Tax Bill's Legal Fee Provision May Burden Attorneys
Law360, Los Angeles (November 16, 2017, 7:27 PM EST) -- Some attorneys are reeling from a provision inserted in the House and Senate’s tax plans that would effectively erase a Ninth Circuit decision allowing attorneys to deduct expenses advanced to clients in contingent-fee cases, potentially placing a burden on practitioners and affecting the availability of legal services.
On Thursday, the full House approved H.R. 1, the Tax Cuts and Jobs Act, which includes a section that would bar lawyers from immediately deducting costs in contingent-fee litigation. Late Thursday the Senate Finance Committee approved its own version of the bill, which also contains the provision.
The change would create uniformity in how...
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