It’s worth considering how investors typically hold property in Ireland, and how which only arrived in Ireland six years ago, is the real estate investment trust …

Is anyone just a little suspicious on how big banks are able to write off billions off their tax bills in 2017 just because of a new tax bill that goes into effect in 2018?

Your question just illustrates how much of a neophyte you are regarding taxation and financial statements.

For example we are hearing about these “charges” for one time writeoffs. Well guess what? Just one example but if a business has a net operating loss carryforward of $1,000,000 that would result in a deferred federal tax asset of about $350,000. (35% tax rate for 2017). Now with the top corporate tax rate at 21% that asset should only be $210,000 resulting in a $140,000 “one time charge” that you are hearing about.

Now the thing to remember is that FEDERAL taxes are NEVER deductible. So this is a financial statement issue only and NOT a tax issue.

So yes they are doing things properly and NO they are not “REAPING” a tax benefit from an additional deduction.