President-elect Joe Biden’s proposed tax increases provide incentives for privately held businesses to “sell sooner than later,” says EY’s Bill Casey. “Following a tax rate increase, there would likely be an increase in joint ventures and alliances.”
“The private equity industry welcomes the new administration and is very appreciative of the common sense approach that President- elect Joe Biden is signaling,” Pam Hendrickson, COO, the Riverside Co., says.
Smith signed a non-prosecution agreement in which he admitted he repeatedly made false filings with the IRS, even after he attempted to enter an amnesty program in 2014. He agreed to pay more than $139 million in back taxes, interest and penalties after a four-year investigation.
October 16, 2020
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Private equity professionals are adapting new tactics to get ahead in this competitive distressed environment including: new valuation calculations, strategies for due diligence, mitigating emerging risks and tax considerations.