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Partner Christian E. Kimball’s views on recent changes to the tax laws with the most impact on businesses were broadcast on December 15 via the World Wide Web, as part of the Illinois CPA Society’s innovative new series of Webcasts for accounting and finance professionals. Mr. Kimball focused on the American Jobs Creation Act of 2004, which includes some of the most significant changes to business taxation since the Tax Reform Act of 1986.
Mr. Kimball’s remarks addressed, among other things, significant changes which affect foreign sales income, repatriation of foreign earnings, and a new deduction related to domestic production. Mr. Kimball also addressed changes that affect deferred compensation plans, and changes in reporting requirements for transactions that have important tax characteristics.
According to the society, the series of lectures and presentations are hosted by the non-profit organization as part of its unique presentation of interactive webcasts to bring commentary from leading experts on hot topics for its constituents. Mr. Kimball, a Partner in Jenner & Block’s Chicago office and Co-Chair of the Firm’s Tax Practice, writes and speaks frequently on tax topics.