GottaLaff , 13 days ago The #IRS plans to end a major tax loophole for wealthy taxpayers that could raise more than $50 billion in revenue over the next decade, the U.S. Treasury Department says. The guidance and ruling being announced Monday includes plans to essentially stop “partnership basis shifting" — a process by which a business or person can move assets among a series of related parties to avoid paying taxes. https://abcnews.go.com/US/wireStory/irs-end-major-tax-loophole-wealthy-raise-50-111180062
The #IRS plans to end a major tax loophole for wealthy taxpayers that could raise more than $50 billion in revenue over the next decade, the U.S. Treasury Department says.
The guidance and ruling being announced Monday includes plans to essentially stop “partnership basis shifting" — a process by which a business or person can move assets among a series of related parties to avoid paying taxes. https://abcnews.go.com/US/wireStory/irs-end-major-tax-loophole-wealthy-raise-50-111180062
