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Businesses Say Proposed Tax Rule Is Too Complicated

July 06,2016 17:06

Corporations and business groups, increasingly worried about the scope of the proposed Treasury rules, say U.S. officials underestimate the difficulty of creating systems to track and document internal loans and fail to understand how the rules disrupt ...and more »

The federal government says U.S. corporations will spend a combined $13 million annually complying with proposed tax rules on internal corporate debt. But an industry trade group estimates that could be the cost for just one company. That divide over compliance costs is one flashpoint in a widening regulatory dispute between companies and the Obama administration, and the tensions could rise in coming months as the government tries...

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