Nonilex ,
@Nonilex@masto.ai avatar

The admin plans to stop & individuals from manipulating the value of in arcane ways such as using the same assets over & over again to lower their taxes. ()
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, Dept ofcls said Mon.


https://www.washingtonpost.com/business/2024/06/17/tax-basis-shifting-irs-partnerships/

EdSanders ,
@EdSanders@mstdn.social avatar

@Nonilex I want to see this knowing full well it will adversely affect the resale value of my home.

I live in an area where at least 1/2, and probably closer to 80%, of single family homes are purchased by LLCs.

It occurred to me last year that they are almost certainly being used as assets in tax avoidance schemes.

thepoliticalcat ,
@thepoliticalcat@mastodon.social avatar

@Nonilex Hey, Washington Post, could you PLEASE stop using photos of smug-looking Black people, no matter how apropos, to discuss things the U.S. Govt is doing to boot scammers in the ass? Try portraying people with melanin as the ordinary human beings they are, ya schmucks.

TheDarcBird ,
@TheDarcBird@vivaldi.net avatar
barney ,
@barney@mas.to avatar

@Nonilex

Every time someone says "I refuse to vote for Biden," they're saying, "I don't care if hedge funds and billionaires don't have to pay taxes. Let them get away with paying nothing, starving government programs and driving up inflation, while the rest of us can't afford food or shelter or health care. Let them steal our children's future. That's fine with me."

Remember to treat them like they just said that, because they did.

https://www.washingtonpost.com/business/2024/06/17/tax-basis-shifting-irs-partnerships/

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