Author: Editor

An IRS proposal to drop a Biden administration rule targeting basis-shifting strategies by complex partnerships is getting support from key stakeholders, as well as calls for further relief.But critics argue that dropping the regulation would let wealthy tax cheats off the hook. Even those who advocate getting rid of the rule say the IRS must take more action to remove enforcement risks around partnership basis-shifting strategies. The regulatory proposal last month to withdraw the Jan. 14 regulation cited President Donald Trump’s executive order that created the Department of Government Efficiency. It also mentioned the concerns of “taxpayers and their material advisors”…

Hailey Bieber attends the Rhode UK launch party with Hailey Bieber at Chiltern Firehouse on May 17, 2023 in London, England. Dave Benett | Dave Benett Collection | Getty ImagesE.l.f. Beauty announced on Wednesday plans to acquire Hailey Bieber’s beauty brand Rhode in a deal worth up to $1 billion as the cosmetics company looks to expand further into skincare. The acquisition – E.l.f.’s biggest ever, according to FactSet – is comprised of $800 million in cash and stock, plus an additional potential $200 million payout based on Rhode’s performance over the next three years. The deal is expected to close in…