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IPFS News Link • TAXES: Federal

Treasury cuts tax benefits for U.S. companies striking 'inversion' deals abroad

• Reuters

Moving against tax-avoidance by corporations, the Obama administration is taking several actions to curb deals known as "inversions" that allow companies to escape U.S. taxes by reincorporating abroad.

The Treasury Department on Monday announced new rules, effective immediately, that will reduce tax benefits accessible to companies that have inverted and make new inversions more difficult and less potentially rewarding....