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Items tagged with: treasury
The #Biden admin plans to stop #businesses & #wealthy individuals from manipulating the value of #assets in arcane ways such as using the same assets over & over again to lower their taxes. (#Trump)
High-end business partnerships like hedge funds & wealthy individuals such as real estate investors have inappropriately used labyrinthine structures to shield tens of billions of dollars from taxation, #Treasury Dept ofcls said Mon.
#law #finance
https://www.washingtonpost.com/business/2024/06/17/tax-basis-shifting-irs-partnerships/
Closing asset loophole could add billions to tax collections, IRS says
The Treasury Department plans to enact rules that would prevent certain large businesses from depreciating the same asset repeatedly.Julie Zauzmer Weil (The Washington Post)
