Obama Admin to Crack Down on Inversions

On Monday the White House announced it is taking matters into its own hands when it comes to the practice of tax inversions. Tax inversions, which have been used by companies like Burger King to decrease tax bills by registering in other countries, has lead to widespread public ire. The Treasury Department will reportedly take executive actions including cutting off access to offshore cash without paying taxes on it, making it more difficult to spin off subsidiaries overseas, and make it harder to get around current ownership standards. The crackdown affects deals closed on or after September 22.