Treasury Exercises Broad Authority With New Inversion Rules

By Ama Sarfo (September 23, 2014, 8:27 PM EDT) -- The U.S. Department of the Treasury made inversions less attractive Monday by stripping several key tax advantages from the recently popular transactions, crafting much tougher rules that attorneys say are likely to withstand legal challenges.

When the department said in August it wanted to issue an administrative remedy that would bypass Congress, detractors ballyhooed the idea as meaningless in the absence of fundamental tax reform and questioned whether the Treasury even had the authority to issue regulations on the matter. Monday's release hasn't quieted criticisms that the nation needs comprehensive tax reform instead of a one-off fix, but experts say the...

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