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 ...

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 Treasury Department and the IRS on Monday unveiled a plan to “close a major tax loophole” used by large, complex partnerships.

The IRS says it's closing a tax loophole that has allowed the wealthy to make billions of dollars in taxable income disappear.

A sign for the Internal Revenue Service building in Washington. The IRS plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade.

The Treasury and IRS proposed new tax regulations for the uber-wealthy that will result in $50 billion in tax revenue over the next decade.

The comment from the biggest US bank’s top boss comes at a time when President Trump has also been hinting at closing the carried interest loophole.

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.

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. The ...