IRS scales back dis­clo­sure rule

Los Angeles Times - - Company Town -

The In­ter­nal Rev­enue Ser­vice scaled back a new re­quire­ment that large cor­po­ra­tions dis­close on their tax re­turns whether they are tak­ing tax breaks that might be un­ac­cept­able to the govern­ment.

The agency is re­spond­ing to com­plaints from com­pa­nies that some of the dis­clo­sures are too bur­den­some, IRS Com­mis­sioner Doug Shul­man said. How­ever, he said the new rules would still ful­fill his goal of mak­ing cor­po­rate re­turns more trans­par­ent and IRS ex­am­i­na­tions more ef­fi­cient.

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