FinancialWeek: Senators move to ban tax patents
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Started by: zoobabzoobab
Date: 17 Nov 2007 23:11
Number of posts: 1
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Summary:
Several senators proposed legislation on Thursday to ban tax-planning patents, as concerns mount at the Internal Revenue Service that such patents may be used to illegally avoid taxes. The bill, introduced by Sens. Max Baucus (D-Mont.) and Chuck Grassley (R-Iowa), would prohibit patents on all tax strategies. A similar bill was proposed in May in the House, and was attached to a major patent law overhaul bill during the summer. That overhaul bill is now before the Senate, where it is expected this new amendment will be added.
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