“The Trump administration signaled a plan Friday to revoke a two-year-old tax rule designed to crack down on an arcane but highly lucrative tax avoidance tactic used by some of the largest and most complicated businesses.
If enacted, the Trump administration’s proposal would mean that large business partnerships no longer need to tell the IRS when they shift assets from one corporate entity to another. Those transactions, called “basis shifting,” have allowed businesses to dodge tens of billions of dollars in taxes, the Treasury Department alleged in the past, by illegally depreciating the same asset over and over again.
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the IRS workforce has shrunk drastically under Trump. In the first months of his term, more than a quarter of the agency took buyout offers or otherwise left their jobs.”
https://finance.yahoo.com/news/trump-moves-undo-tax-rule-204632497.html