A discrete notice recently issued by the Department of the Treasury disclosed a change to Section 382 of the tax code. The little publicized modification will allow banks to reap massive rewards for mergers, according to a report in The Washington Post.The U.S. Treasury modified a 22-year-old law that had outlawed firms from benefiting from certain tax shelters arising from acquisitions. And the windfall to banks could reach anywhere from $105 billion to $150 billion.
Quiet Tax Change Boosts Bank M&A: Report
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