September 23, 2014
Mariah Timms
News Writer
Business News
The Treasury Department and the executive branch have introduced stricter regulations on the tax laws that allow companies to evade fees by relocating their headquarters elsewhere. The new regulations will make it more difficult and less profitable for these companies to bring the money in from offshore holdings. The rules are effective immediately, even as the Treasury Secretary Jack Lew urges Congress to enact stronger and more far-reaching restrictions. Both parties are calling for more action; Democrats for stronger restrictions, Republicans for a broader tax system overhaul.
