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The IRS and Treasury released notices about two rules they’ll propose to curtail the ability of partnerships to shift taxes between linked entities to lower their tax bills.

IRS launches crackdown on business taxes

The IRS is opening a new front in its campaign to tighten tax enforcement, the latest step the agency is taking after it received a $60 billion pot of extra funding earlier in the Biden administration.

The administration is launching a regulatory campaign focused on businesses set up as partnerships, a type of “pass-through” structure that sends along taxes to owners who pay them at the individual level, according to an announcement today. The Treasury Department said it believes it could collect at least $50 billion over the next decade from the new effort.

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