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How Will 100% Bonus Depreciation Impact Like Kind Exchange Programs for Lessors in 2011?
On Dec. 17, 2010, President Obama signed HR 4853, the “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010″ (the “ACT”). Among other things, the ACT increased the “bonus” depreciation deduction from 50% to 100% for qualified property acquired and placed in service between Sept. 8, 2010 and Dec. 31, 2011, and it extended 50% bonus depreciation for property acquired and placed in service in calendar year 2012.
With the enactment of 100% bonus depreciation in particular, many companies with active Like Kind Exchange (“LKE”) programs are wondering whether it makes sense to suspend their LKE programs for the balance of 2011. Their logic hinges on the federal income tax impact of LKE deferrals on the tax basis of replacement property available for a 100% bonus depreciation deduction. Since gain deferred by LKE reduces the depreciable basis of replacement property, it also reduces the amount of basis that might otherwise be deducted using 100% bonus depreciation.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.