The current economic climate is creating considerable challenges and uncertainties. Managing business risks, and tax risks in particular, that may arise in an economic downturn should be a top priority for businesses grappling with a sluggish economy, severe credit tightening, and overall market uncertainty.

This TGI Webcast executive summary examines the unique tax risks that may arise in a recession in the context of transfer pricing, business restructuring, and debt restructuring and financial instruments.

The Webcast speakers note that transfer pricing issues and considerations associated with declining economies throughout the world may include managing tax authorities' expectations, while business restructuring issues may take the form of Internal Revenue Code (IRC) section 382 traps and mitigation approaches. The final segment of the executive summary concludes with an examination of debt restructuring and financial instrument considerations.