Post-Election and Corporate Tax Considerations for Boards

BDO in the Boardroom

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22d ago 18:19

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To prepare for potential continuation of and/or changes in tax regulations, boards should be taking a vigilant watch and see approach and monitoring respective timing, effective dates and expiration dates:

Confer with management to review financial models – e.g., changes in tax rates, deductions, credits, and exclusions.
Get regular updates on tax policy changes to anticipate potential impacts on international and global tax strategies.
Weigh the more likely scenario that legislative activity taken may allow more permanent actions to extend expiring provisions under current tax laws.
Understand the organization's tax risk management policies, focusing on compliance, reporting, and consulting to assess how changes in tax law or procedure could affect the company’s risk profile.
Consult with external tax advisors to stay abreast of tax policy changes and ensure coordination with the organization's internal tax team.

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