Overview
- In a series of proposed regulations and notices, Treasury and the IRS moved to ease tax burdens for private equity, crypto firms, foreign real-estate investors, and large multinationals.
- In August, the IRS proposed reversing anti-duplication rules designed to stop multinationals from claiming the same losses in multiple countries.
- In September, interim guidance on the 15% corporate minimum tax let companies ignore unrealized digital-asset gains and losses in adjusted financial statement income.
- Company disclosures show immediate effects, with Strategy Inc saying it no longer expects to face the minimum tax and Cheniere Energy citing a $380 million refund tied to the guidance.
- In October, the IRS proposed new breaks for foreign investors in U.S. real estate, as Treasury defended its approach as pro-investment and critics warned of unlegislated tax cuts with potential deficit costs linked to Trump’s broader tax plan.