US Treasury and IRS quietly expand tax breaks for the ultrawealthy and crypto giants: NYT

The Trump administration, through recent actions by the US Treasury and IRS, is quietly implementing hundreds of billions of dollars in new tax breaks that primarily benefit large corporations, private equity firms, crypto companies, and wealthy investors. These measures provide significant relief from the corporate alternative minimum tax enacted in 2022, a law intended to ensure profitable corporations pay a baseline level of federal tax. Analysts warn that these regulatory changes undermine the intended revenue projections of the 2022 law, potentially reducing expected federal revenue and expanding upon the corporate tax cuts passed in July, raising concerns about the fiscal impact and legality of the moves.

(Source：Crypto Briefing)