The #Biden admin plans to stop #businesses & #wealthy individuals from manipulating the value of #assets in arcane ways such as using the same assets over & over again to lower their taxes. (#Trump)
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, #Treasury Dept ofcls said Mon.
#law #finance
https://www.washingtonpost.com/business/2024/06/17/tax-basis-shifting-irs-partnerships/