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Writedowns Pile Up as Companies Analyze Tax Bill

A third of companies may take a one-time hit related to required accounting changes.

By Natasha Rausch and Brandon Kochkodin, Bloomberg | Updated on December 27, 2017

President Donald Trump has signed a tax overhaul and companies are rejoicing. But the most immediate effect of the new law could be a one-time accounting headache.

Hours after the bill signing, announcements started to roll in from some of the world’s biggest companies—with some spectacular numbers. While the bill benefits most companies through a lower rate, it also requires them to recalculate some of the tax positions they may have been holding on their books for years.

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