How Accounting Giants Create Favorable Tax Laws From Within Government

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This year Mr. Harter returns to PwC..

During a two-year “cooling-off” period that restricted senior government officials from meeting with former employers, Mr. Harter said, “I fully complied with the Treasury’s dispute rules by not meeting with PwC representatives. “.Although he was involved in the construction of Offshore tax cut Harter said he met with corporate lobbyists and said he didn’t remember meeting Olson and other PwC officials on this topic.

Olson introduced the question to PwC.

The 2017 tax reform included a provision that would allow a 20% tax credit for certain types of business income. But the law— Known as Section 199A — Significantly excluded the undefined category of “Intermediary Services”. In 2018, lobbyists from several industries, including real estate and insurance, visited the Treasury to try to convince authorities not to apply broker bans.

On August 1, according to records, Ellis met with former PwC colleague Foyerstein and his client, the National Real Estate Agents Association’s three other lobbyists. They wanted real estate brokers to qualify for a 20 percent deduction.

The meeting was held before the first draft of the proposed rules was published. So soon, Ellis’s former PwC colleague and his client went on an internal path.

Treasury First version Of the rules proposed a week later, real estate brokers were eligible.National Real Estate Agents Association I took credit For victory on that website. (The final rule applies only to stock and other securities brokers.)

The meeting between Mr. Ellis and Mr. Foyerstein seemed to be in breach Federal Code of Ethics This limits government officials from meeting former private-sector colleagues, said Don. Fox said.

Fox described the meeting as inappropriate. “It will certainly question how the regulation was drafted,” he said. “There is no way to get rid of the dirt that will be attached.”

How Accounting Giants Create Favorable Tax Laws From Within Government

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