According to a Techub News report citing The New York Times, the U.S. Treasury Department has offered tax breaks to large corporations, including private equity firms, cryptocurrency companies, and foreign real estate investors, this year. In October, the Internal Revenue Service (IRS) released new proposed regulations that would provide incentives for foreign investors investing in U.S. real estate. In August, the IRS further proposed relaxing regulations to prevent multinational corporations from evading taxes by filing duplicate losses in multiple countries. The report notes that while these announcements haven't made headlines, they have attracted attention from the accounting and consulting industries. Kyle Pomerleau, a senior fellow at the American Enterprise Institute, stated that the Treasury Department has been implementing "tax cuts without legislation."
The U.S. Treasury Department is accused of providing tax breaks to large corporations, including crypto companies, without legislation.
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