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 US Treasury and IRS are closing a tax loophole used by the über-wealthy. They're cracking down on "opaque" business structures that "inflate" deductions. The proposed regulations could ...

The Internal Revenue Service and Treasury Department launched a new initiative Monday aimed at closing a significant tax loophole often used by the super wealthy. The IRS said ending "partnership ...

US Treasury's Bessent ... government programs." The Treasury spokesperson declined to comment on whether the IRS would take steps to revoke Harvard University's tax-exempt status after Trump ...