Chamber urges Treasury to withdraw rules on inversions, estate tax: The U.S. Chamber of Commerce recommended Monday that the Treasury Department withdraw several Obama administration-era tax rules, including controversial guidance issued last year concerning offshore tax deals and the estate tax.
The Chamber’s comments come after President Trump signed an executive order in April that directs Treasury to review all significant tax regulations issued in 2016.
One rule that the Chamber wants to see eliminated is a Treasury regulation that would redefine certain related-party debt as equity under section 385 of the Internal Revenue Code.
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