The U.S. Treasury and Internal Revenue Service said on Monday they will close a tax loophole exploited by large, complex partnerships, an action that they estimated could raise $50 billion in new ...

The Treasury Department and the IRS announced a new initiative this week to close a tax loophole known as “partnership basis shifting.” That’s where businesses use different legal entities ...

The IRS and Treasury Department on Monday unveiled a plan to end a major tax loophole used by wealthy taxpayers, a move that could generate as much as $50 billion in revenue over the next decade.

IRS plans to close major tax loophole for wealthy, ... the Treasury and the IRS plan to target basis-shifting transactions that aim to take abusive deductions or reduce gains when the asset is sold.

The U.S. Department of the Treasury and the IRS on Monday unveiled a plan to "close a major tax loophole" used by large, complex partnerships, which could raise more than an estimated $50 billion ...

The IRS and Treasury Department on Monday unveiled two new rules aiming to end "a major tax loophole" that the wealthiest Americans have used to avoid paying tens of billions of dollars in taxes.

The US Treasury announced new rules on Monday to crack down on 'partnership basis shifting' as they warned they were coming after $160 billion owed by the top 1 percent of earners each year.

The IRS and Treasury Department on Monday unveiled a plan to end a major tax loophole used by wealthy taxpayers, a move that could generate as much as $50 billion in revenue over the next decade.

The U.S. Treasury Department and the IRS are working together to "close a major tax loophole" often abused by complex and large partnerships to lower tax liabilities. Once implemented, this ...