Paper: New tax laws could have negative impact on charitable giving, tax-exempt organizations


Twenty states sue federal government, seeking end to Obamacare

The individual mandate was previously justified as a tax. Without the penalty as a part of the new tax code, there is no longer a tax so the mandate is being challenged.

America’s bank profits take a hit from tax reform

These one-off hits have two main causes. First, many banks carry “deferred tax assets” (DTAs) on their balance-sheets, largely past losses—a legacy, for many, of the financial crisis—carried forward to set against future taxes.

Second, cash repatriated from abroad will be taxed at 15.5%—below the main rate, giving banks an incentive to bring it home.

Regional lenders, with little business abroad, should gain more than Wall Street firms. They also have lower DTAs, meaning less pain now. But big banks, despite the chunky write-downs, should benefit too.