IRS Proposes Rules for Company Deductions
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From Bloomberg News
The Internal Revenue Service proposed regulations that would allow companies to deduct immediately many of the expenses involved in making acquisitions and fighting takeovers, reversing three decades of policy.
The regulations are a victory for companies such as United Technologies Corp., Verizon Communications Inc., AT&T; Corp. and Coca-Cola Co., and for members of a 27-company coalition lobbying for the move.
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