President Biden is putting forward new rules to go after wealthy tax cheats as the battle on how to tax the economy sizzles ahead of the election. The new rules target businesses designated as partnerships, which have proliferated over the last decade as tax havens and have been the object of an entirely new IRS department within the agency’s large business and international division. The Treasury estimated that the new rules would generate $50 billion over the next decade, a fraction of the roughly $700 billion that the government is owed but fails to collect each year. “Treasury and the IRS are focused on addressing high-end tax abuse from all angles, and the proposed rules rel
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