Secret Miami real estate deals took hit after federal crackdown

When a company called the Flower of Scotland paid $1.13 million — in cash — for a three-bedroom condo in Sunny Isles Beach last year, it had to do something unusual: tell the federal government who its real owner was. In years past, the Delaware-based shell company could have put down the money and walked…

Has Uncertainty Undercut the TCJA’s Promised Investment Benefits?

While the Tax Cuts and Jobs Act significantly cuts taxes for US corporations, it may have created so much uncertainty that the promised benefits of those tax cuts—new productivity-enhancing investment and a shift of foreign capital to the US—are being delayed. At last week’s National Tax Association’s annual policy conference, much of the conversation revolved…