Democrats target grantor trusts the rich use to pass on fortunes tax free.
The Senate proposed ramping up IRS surveillance of cryptocurrency transactions.
President Biden is targeting some of the most popular tactics used by the rich to avoid taxes.
The Biden administration has proposed requiring the collection of data on foreign cryptocurrency investors.
The president's plan to raise $700 billion over a decade from increased tax audits will probably take years to bear fruit.
The White House plans to propose almost doubling the capital gains tax rate for those earning $1 million or more.
His proposal would almost double the capital gains tax rate for wealthy individuals, adding to an investment income surtax.
Possible regulatory changes would complement the priorities President Joe Biden campaigned on.
The IRS restricted a valuable tax break hedge fund managers could claim after an error in the 2017 tax law.
The agency is holding off on some collections and audit activities as the epidemic continues.
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