Talk:David Kautter

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More needes Wikipietime (talk) 03:01, 29 October 2017 (UTC)

New York Times story on private equity taxes
https://www.nytimes.com/2021/06/12/business/private-equity-taxes.html Private Inequity: How a Powerful Industry Conquered the Tax System The I.R.S. almost never audits private equity firms, even as whistle-blowers have filed claims alleging illegal tax avoidance. By Jesse Drucker and Danny Hakim New York Times June 12, 2021

The rules were the responsibility of Treasury’s top tax official, David Kautter. He previously was the national tax director at EY, formerly Ernst & Young, when the firm was marketing illegal tax shelters that led to a federal criminal investigation and a $123 million settlement. (Mr. Kautter has denied being involved with selling the shelters but has expressed regret about not speaking up about them.)

On his watch at Treasury, the rules under development began getting softer, including when it came to the three-year holding period.

In December, a handful of Treasury officials working on the regulations told Mr. Kautter that the rules were not ready. Mr. Kautter overruled his colleagues and pushed to get them done before Mr. Trump and Mr. Mnuchin left office, according to two people familiar with the process.

On Jan. 5, the Treasury Department unveiled the final version of the regulations. Some of the toughest provisions had vanished....

“The government caved,” said Monte Jackel, a former I.R.S. attorney who worked on the original version of the proposed regulations.

--Nbauman (talk) 19:08, 12 June 2021 (UTC)