Pascrell Praises Treasury Action to Close Billionaire Bonanza Tax Loophole
March 30, 2023
March 30, 2023
WASHINGTON, March 30 -- Rep. Bill Pascrell Jr., D-New Jersey, issued the following news release on March 29, 2023:
U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), a member of the tax-writing House Ways and Means Committee, this afternoon praised fresh action by the U.S. Treasury Department and Internal Revenue Service to curb abuse of arguably the worst loophole in the entire federal tax code, so-called stepped-up basis. This action follows prodding by Pascrell to issue this guidance.
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U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), a member of the tax-writing House Ways and Means Committee, this afternoon praised fresh action by the U.S. Treasury Department and Internal Revenue Service to curb abuse of arguably the worst loophole in the entire federal tax code, so-called stepped-up basis. This action follows prodding by Pascrell to issue this guidance.
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