While law firms are increasingly modeling their business practices after their clients’, one they have not been interested in mimicking is the accrual method of accounting. But it may be coming.
Leaders of some of Pennsylvania’s largest law firms are calling a piece of proposed tax reform legislation floating around in Congress a “gimmick” to get what one firm leader estimated was an extra $10 billion in tax revenue from the Am Law 200 firms alone, with the end result being heavy tax burdens on partners and firms being forced to borrow money.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]