Tax & Sports Update

Building the New Berlin Wall: Treasury's Anti-Inversion Regulations

Posted by Joseph B. Darby III on Jun 10, 2016 9:23:03 AM

BerlinWall.jpgThe Treasury no doubt felt that it could chalk one up in the win column early in April 2016 when, following its release of a veritable carpet bombing of new regulations designed to blow up inversion transactions, the primary target, Pfizer Inc., chose to wave the white flag and cancel—at least for the time being—its efforts to merge with Allergan PLC. 

One can easily imagine, deep in the bowels of the IRS headquarters at 1111 Constitution Avenue in Washington, D.C., giddiness reigning supreme, with related tax policy wonks exchanging awkward "high fives." Let’s not go there.

Unfortunately, a more sober assessment is that the Treasury's "victor" was Pyrrhic at best...read more

Topics: IRS, Tax, Inversion Transactions, U.S. Treasury