Goldman Sachs Group Inc. will take a $5 billion earnings charge related to the recent tax overhaul, a one-time jolt expected to be followed by a longer-term windfall from lower rates.
Companies from Wall Street to the heartland are wrestling with the immediate implications of the most sweeping changes to the nation’s tax code in three decades. Goldman’s announcement on Friday, which sets up its first quarterly loss in six years, also hints of broader turbulence coming to U.S. corporate earnings in the new year.
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