Boston Tax Partner Chris Flanagan Quoted in Law360 on Pass-Through Businesses and Potential Restructuring After Passage of Tax Cuts and Jobs Act

Tax Partner Chris Flanagan, Chair of the Firm’s Business Transactions Practice Group, commented on how some pass-through businesses are holding off on restructuring that might take advantage of the reduced rates given the absence of guidance from the IRS after the passage of the Tax Cuts and Jobs Act. Commenting on implementing structures that need to be put in place in advance of such guidance, Flanagan said, “It’s easier and safer to go the pass-through route for now because it’s always available to turn into a corporation once we get more guidance. But if you become a corporation now, and then we get guidance that makes that the wrong answer, that’s hard to unwind tax-efficiently.” 

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