Title IX. Revenue Provisions

Improved Enforcement and Closing Tax Loopholes

The Act will improve enforcement and close loopholes in the tax code. These measures include: (i) expanding corporate information reporting requirements; (ii) closing the loophole that allows certain byproducts of paper production to be eligible for the cellulosic biofuels producer credit; and (iii) helping prevent tax shelters by clarifying the definition of when activities have true “economic substance” beyond evading taxes. 

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