US authorities grant increasingly broad tax breaks to large corporations: Reports

Moscow, Nov 9 (UNI/SPUTNIK) The US Treasury Department and the Internal Revenue Service (IRS) are consistently providing more and more tax breaks to large corporations, which is expected to increase the country’s budget deficit, the New York Times reported.

The Treasury Department and the IRS, through a series of new notices and proposed regulations, are providing benefits to large private equity firms, cryptocurrency companies, foreign real estate investors, insurance companies, and various multinational corporations, the publication claims.

It noted that in October, the Treasury and the IRS had provided new tax breaks to foreign investors in US real estate, and earlier, in August and September, they had scaled back efforts to combat tax evasion by large corporations.

At the same time