IRS plans to shut tax loophole for the ultrawealthy, raise more than $50 billion

Photo credit: Rob Young on Flickr via Wikimedia. CC BY 2.0. Article by Carmen Molina Acosta. The International Consortium of Investigative Journalists – June 25, 2024.

The IRS plans to shut down a tax loophole used by large, complex partnerships, allowing the U.S. Department of Treasury to raise an estimated $50 billion or more in revenue over 10 years. The move is the latest in a series of faltering efforts the IRS has taken to hold the ultrawealthy more accountable, and comes less than three months after […]

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