FS Audiocast

Opportunity zones continue to develop as a strategic tool for family offices focused on long-term wealth preservation and purposeful investing. In this episode of PwC’s Financial Services Tax Audiocast series, Jonathan Flack, PwC’s Global and US Family Office Leader, and Steve Kennedy, PwC’s National Opportunity Zone Specialist, discuss the latest changes under OZ 2.0 — including new timing flexibility, expanded benefits, tighter zone designations, and increased compliance requirements — and highlight the importance of early planning and careful structuring.

Corporate tax rules for charitable contributions are changing, and for banking and capital markets organizations, how and when contributions are made will matter more than ever. In this episode, Denise Schwieger and Monic Kechik unpack the introduction of a new 1% floor on deductible charitable contributions and what it could mean for  financial institutions with established giving programs, exploring how the new tax threshold interacts with community investment strategies and why organizations may need to reassess contribution timing, structures, classification, and financial reporting as they adapt to the evolving tax rules. 

Global minimum tax rules continue to evolve, and for banking and capital markets organizations, regulatory design matters. In this episode, Denise Schwieger and Chris Riffle unpack the OECD’s newly released side-by-side system under Pillar Two and what it could mean for US-parented banks, broker-dealers, asset managers and capital markets groups. The discussion explores how the new framework interacts with highly regulated legal-entity structures, why recent OECD determinations are notable for US groups, and how tax leaders can balance near-term compliance with longer-term simplification opportunities as the rules take shape.

The One Big Beautiful Bill Act (OBBBA) brings a significant shift to the clean energy tax credit landscape, accelerating IRA credit phaseouts and imposing new foreign-entity restrictions. In this episode, Denise Schwieger and Randa Barsoum break down what these changes mean for financial institutions, from navigating the Material Assistance Cost Ratio (MACR) test to managing tighter rules around credit transferability. For institutions active in or entering the IRA credit market, this discussion underscores the need to reassess deal structures, supply-chain exposure, and transfer diligence in light of OBBBA’s new compliance demands. 

Tax operating models are under increased pressure, as the financial services sector — including insurance — navigates rapid regulatory change, demographic workforce challenges, and increasing operational demands. In this episode, Matt Lodes and Vince Scarpati explore how these macro forces are reshaping the tax function and the strategic decisions organizations must make to sustain performance amid shrinking talent pools and rising complexity. 

California’s shifting tax landscape is raising new implications for financial services companies, particularly around sourcing, conformity updates and wealth-based proposals. In this episode, Caragh DeLuca, PwC’s Financial Services State and Local Tax Leader, sits down with Ben Luedeke, a tax partner with deep experience advising asset managers. Together, they unpack what finalized market-based sourcing regulations mean for managers with California exposure, the ripple effects of California's updated conformity to the Internal Revenue Code, and early signals from a proposed billionaire’s tax. Whether filing in California today or not, this discussion spotlights the need to reassess investor's footprint and reporting strategies now. 

After a slow stretch in activity, private equity firms are cautiously optimistic. In this episode of PwC’s Financial Services Tax Audiocast series, Amy McAneny, PwC’s US Private Equity Tax Leader, sits down with Josh Smigel, US Private Equity Leader, to explore the forces shaping dealmaking today. From tax planning and policy shifts to exit timing and liquidity alternatives, the conversation offers practical insights that can help leaders prepare for what’s next. 

Private credit secondaries are rapidly moving from niche strategy to mainstream product in asset and wealth management. As investor demand for liquidity intensifies and the market attracts a growing mix of managers and investor types, tax leaders are being pulled into complex structuring conversations—often earlier than expected. In this audiocast, PwC’s Amy McAneny and Mindi Lowy breaks down what’s driving the momentum and what tax teams can do now to prepare for a surge in private credit secondaries.   

As tax departments across the financial services landscape face mounting pressure—from regulatory shifts to rising workloads and evolving tech requirements—many are taking a second look at how work gets done. In this latest episode of our Financial Services Tax Audiocast, Amy McAneny, PwC’s Private Equity Tax Leader, sits down with Arthur Scherbel to unpack how tax-managed services can support transformation. Together, they explore the critical distinction between outsourcing and teaming, the impact of technology like AI, and the strategic mindset shifts needed to unlock long-term agility and impact.

Thinking of entering into a GP stakes transaction? In this Financial Services audiocast, we explore the nuances of these deals, unpacking the tax complexities and growing popularity. 

As of January 1, 2025, California has significantly reshaped the state tax landscape for financial institutions. A new law replaces the long-standing three-factor apportionment formula with a mandatory single sales factor approach. In this episode of PwC’s Financial Services audiocasts, Denise Schwieger and Ben Muilenburg break down the implications for financial institutions, outline potential tax liabilities, and emphasize strategic steps to mitigate risks and capture potential benefits. 

In this episode of PwC’s Financial Services audiocasts, Denise Schwieger and Sian Rayson discuss the IRS's significant revisions to Form 6765. These changes impact how businesses, especially in the banking and financial sectors, report research and development (R&D) activities for tax credits. With increased disclosure requirements, cross-functional collaboration and better documentation are more critical than ever. This session offers insights on how to prepare now and avoid costly pitfalls later.

In this extended cut episode of PwC’s Financial Services tax audiocasts, Amy McAneny and Brian Rebhun explore how liquidity concerns are impacting private equity, credit, insurance, and asset management sectors. With rising interest rates, delayed exits, and evolving investor demands, generating and preserving liquidity has become a central challenge across the industry. The discussion spans from foundational definitions to emerging solutions such as secondaries, NAV lending, and continuation funds. Listeners will gain insight into how firms are rethinking strategies and structures to navigate this evolving landscape.

In this extended cut episode of PwC’s Financial Services audiocasts, Amy McAneny and Brian Rebhun break down the implications of the proposed H.R.1 —a legislative sequel to the 2017 Tax Cuts and Jobs Act (TCJA)—on the financial services sector. Dive into how H.R. 1 could shape the future for operating companies, funds, institutional investors, foreign capital flows, and high-net-worth individuals.