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Orrin Hatch
Treasury moves against 'inversion' deals
Treasury moves against 'inversion' deals

WASHINGTON -- Moving against tax avoidance by corporations, the Obama administration took several actions on Monday to curb “inversion” deals that allow companies to escape high U.S. taxes by reincorporating abroad. The Treasury Department announced new rules, effective immediately, that will reduce the tax benefits available to companies that have inverted, while also making new inversions more difficult to do and less potentially rewarding. Because they took effect on Monday, the new rules might raise issues for some of a handful of companies that have agreed to do inversions, but have not yet completed them. Fast-food chain Burger King Worldwide Inc is in the midst of...