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Recent articles by David Morse

  • Paycheck Protection Program (PPP) Legislation for Christmas

    by David Morse, Tax Policy Director Congress seems likely to attach COVID-19 relief to a must-pass omnibus spending package before adjourning at Christmas this year. However, Congress will need more time to negotiate both regular government funding and extra relief provisions. The new bipartisan package that restarted negotiations includes a long-sought deductible for the first round of Paycheck Protection Program (PPP) loans as well as simplified forgiveness for loans under $150,000 and a second round of COVID Loans. Although the initial PPP loans were quite popular, the new legislation may still face obstacles. Read more
  • Tax Avoiders Should Not Get Bailout Money

    Editor's Note: David Morse is the tax policy director at the Coalition for a Prosperous America Education Fund. Right now, Washington is preoccupied with efforts to support struggling U.S. businesses during the COVID-19 pandemic. Surprisingly, some companies that use tax havens to avoid paying U.S. taxes are trying to get their share of this relief aid from the U.S. government. America’s taxpayers would likely oppose the idea of giving bailouts to tax avoiders. They’d say that a company choosing to set up a tax haven in Bermuda should look to their tax domicile for a bailout, not the U.S. government. Read more
  • CPA submits opinion to OECD Tax Committee

    The Organization for Economic Cooperation and Development (OECD) has proposed significant changes to the global tax system to combat profit shifting. The Coalition for a Prosperous America supports a much simpler, better, and fairer solution: Sales Factor Apportionment. The following submission was sent to the OECD on November 11th, 2019 to express our support and concerns for the OECD's first proposal on this issue. Multinational tax advantages must end to protect American domestic businesses. Read more
  • OECD Proposal Fails to Help Domestic US Manufacturers

    Many in Washington look at the Organization for Economic Cooperation and Development (OECD) in Paris to help with pressing business concerns in the global community. And recently, the OECD promised to tackle cumbersome issues related to international corporate taxation. Unfortunately, it appears that the OECD isn’t positioned to provide a helpful solution when it comes to protecting America’s small businesses.  Read more
  • Top 3 Tax Proposals by Democratic Candidates...and How They Affect Domestic Companies

    After an initial review of the various 2020 Democratic presidential contenders’ tax proposals, the CPA tax committee noted a lack of progress on corporate tax reform. Committee members subsequently voted on the remaining corporate tax proposals. By David Morse, Tax Policy Director Read more
  • Top 5 Tax Proposals by Democratic Candidates...and How They Affect Domestic Companies

    Among the various Democratic presidential contenders, there are a number of proposals for corporate tax reform. After reviewing all the candidates’ plans, we’ve identified the ‘Top 5 Democratic Tax Reform Proposals.’  By David Morse, Tax Policy Director Read more
  • TCJA boosted multinationals’ investments overseas more than in U.S.

    Editor’s note: The Tax Cuts and Jobs Act was supposed to increase investment by US multinationals here, but it instead increased investment by those companies in other countries. The reason seems to be that the act exempted the income of foreign subsidiaries from federal taxation. U.S.-based multinational companies devoted more capital investment money to foreign countries after the 2017 tax overhaul than they did in the U.S., according to a new study. Read more
  • US Should Reject Tax Loopholes that China Favors

    By David Morse, Tax Policy Director The US and domestic companies should be alarmed by China’s desire to preserve corporate tax avoidance strategies in the world. Many countries have had enough of corporate tax avoidance, and the Organization for Economic Cooperation and Development (OECD) is currently considering solutions to restrict or end such practices. China supports the least restrictive plan—and one that includes the most potential loopholes to preserve its ability to shift profit out of the US. Conversely, ending these tax avoidance loopholes would strengthen domestic American corporations’ ability to compete for market share.  Read more
  • CPA Op-ed: Fixing TCJA starts with getting multinationals to pay their fair share

    Excerpt: "Essentially, this comes down to fairness. In 2018, 60 Fortune 500 companies paid no taxes on a total of $79 billion in profits. That means multinational entities are still managing to avoid paying the taxes that domestic companies continue to shoulder." It’s been a year-and-a-half since the Tax Cuts and Jobs Act (TCJA) was signed by President Trump. Critics have sniped at it in the intervening time, and the House Ways and Means Committee is preparing to review the full legislation. Read more