Trump Administration Halts I.R.S. Crackdown on Tax Shelters Used by Wealthiest People

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https://www.nytimes.com/2025/09/09/business/trump-irs-tax-shelters.html

https://archive.ph/y6Xkn

Trump Administration Halts I.R.S. Crackdown on Major Tax Shelters
The Treasury Department is rolling back efforts to shut down aggressive strategies used by America’s biggest multinational companies and wealthiest people.
By Jesse Drucker
Sept. 9, 2025, 5:02 a.m. ET

The Trump administration is quietly dismantling efforts by the Internal Revenue Service to shut down a slew of aggressive tax shelters used by America’s biggest multinational companies and wealthiest people.

The administration, bowing to pressure from industry groups, right-wing activists and congressional Republicans, is quickly rolling back several I.R.S. law enforcement efforts, including one aimed at a lucrative tax shelter used by companies like Occidental Petroleum and AT&T.

The I.R.S. crackdown was projected to raise more than $100 billion over 10 years.

In April, the I.R.S. said it would rescind Biden administration rules that had required companies using such tax strategies to report them to the agency, a change making it more difficult for auditors to find the transactions. The agency also eased a pair of rules that target abusive shelters, including one that imposes penalties on wealthy Americans who used an insurance tax scheme that multiple courts have tossed out.

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