Big Company paid $100,000 at the beginning of the year to a large law firm to retain
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Big Company is a long-term client of yours. It has asked you to look into whether any of the retainer fee will be deductible. It wishes to have this advice before the beginning of next year when it will determine whether to pay another $100,000 retainer to the law firm for the year.
a. Do the Treasury regulations provide further guidance in this situation?
b. Do the Treasury regulations help to refine or add to the initial research question?
c. Do the regulations adequately address the research question? If so, what are your conclusions, and on what are they based?
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