IRS plans to raise $50 billion over 10 years, closing loophole ...

The IRS estimates it will raise more than $50 billion over the next decade by closing a loophole often exploited by wealthy filers seeking to avoid paying taxes. The loophole allows such …

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IRS Plans To Raise $50 Billion Over 10 Years, Closing Loophole ...

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The IRS estimates it will raise more than $50 billion over the next decade by closing a loophole often exploited by wealthy filers seeking to avoid paying taxes. The loophole allows such …

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The IRS Is Cracking Down On A Tax Loophole For The Rich. The Effort ...

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Jun 17, 2024 · The IRS could raise more than $50 billion in revenue over the next decade by ending a major tax loophole for wealthy taxpayers, the U.S. Treasury Department said Monday.

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IRS Wants To End Another Tax Loophole For The Wealthy | AP News

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Jun 17, 2024 · 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. …

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Latest IRS Effort To Target Wealthy Tax Cheats Could Raise $50 Billion ...

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Jun 17, 2024 · The agency estimates the new initiative could result in the collection of $50 billion over 10 years by closing a major tax loophole used by some business partnerships to avoid …

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IRS Plans To Close Major Tax Loophole For Wealthy, Raise $50 Billion …

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The Internal Revenue Service is cracking down on a "major tax loophole" that wealthy individuals, complex partnerships and corporations use to skirt the taxes they owe — and it could raise …

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The IRS Wants To End Another Major Tax Loophole For The ... - The Hill

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Jun 17, 2024 · 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. …

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IRS Wants To End Another Major Tax Loophole For The Wealthy And …

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Jun 17, 2024 · 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. …

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The IRS Wants To End Another Major Tax Loophole For The Wealthy …

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Jun 17, 2024 · 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 …

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IRS Takes Aim At A $50 Billion Loophole For Wealthy Taxpayers

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Jun 17, 2024 · The IRS announced Monday that it plans to eliminate a loophole used by large, complex partnerships to avoid taxes – a move that could raise more than $50 billion over the …

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IRS And Treasury Plan To Raise $50 Billion By Closing A Tax Loophole

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Jun 18, 2024 · 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.

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Treasury, IRS Shutting $50 Billion Tax Loophole Used By Ultrarich ...

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Jun 17, 2024 · The US Treasury and IRS are closing a tax loophole used by the ü ber-wealthy. They're cracking down on "opaque" business structures that "inflate" deductions. The …

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FAQs about IRS plans to raise $50 billion over 10 years, closing loophole ... Coupon?

Will the IRS close a major tax loophole?

Shutdown of Abusive Related Party Basis Shifting Transactions Estimated to Raise More than $50 Billion Over the Next Decade WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) announced a new regulatory initiative to close a major tax loophole exploited by large, complex partnerships. ...

How much money will the IRS raise by closing a loophole?

The IRS estimates it will raise more than $50 billion over the next decade by closing a loophole often exploited by wealthy filers seeking to avoid paying taxes. The loophole allows such taxpayers, as well as businesses, to move assets between entities in a way that authorities say has no economic purpose. ...

Will the IRS end a major tax loophole in 2021?

FILE - A sign for the Internal Revenue Service building in Washington, May 4, 2021. The IRS plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade, the U.S Treasury says. (AP Photo/Patrick Semansky, File) ...

Will the IRS crack down on a tax loophole?

The IRS is cracking down on a tax loophole for the rich. The effort could raise $50 billion. June 17, 2024 / 12:16 PM EDT / CBS/AP The IRS could raise more than $50 billion in revenue over the next decade by ending a major tax loophole for wealthy taxpayers, the U.S. Treasury Department said Monday. ...

Will a tax loophole be closed in 10 years?

REUTERS/Kevin Lamarque/File Photo Purchase Licensing Rights WASHINGTON, June 17 (Reuters) - The U.S. Treasury and Internal Revenue Service said on Monday they will close a tax loophole exploited by large, complex partnerships, an action that they estimated could raise $50 billion in new revenue over 10 years. ...

Will a new tax loophole help businesses avoid taxes?

The agency estimates the new initiative could result in the collection of $50 billion over 10 years by closing a major tax loophole used by some business partnerships to avoid paying taxes they owe. ...