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 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 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 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 says it's closing a tax loophole that has allowed the wealthy to make billions of dollars in taxable income disappear. IRS plans to close major tax loophole for wealthy, raise $50 billion ...

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 IRS and Treasury Department unveiled a plan to close a loophole used by the nation’s ultra-wealthy and raise $50 billion in tax revenue in the next decade. Investopedia’s Editor-in-Chief ...

WASHINGTON — 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 said.

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.

WASHINGTON (AP) — 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.