A potential tightening of some rules which enable multinational corporations to lower their U.S. tax bill seems to be in the works.

I.R.S. May Tighten Rules:

The Internal Revenue Service is considering a plan to curb a tactic commonly used by multinational corporations with American operations to lower their tax bills, a move that would help bring back some of the billions of dollars in taxable profits held overseas.

The plan was described on Wednesday by two government officials briefed on the matter, who spoke on the condition of anonymity because they said the plan was still in its early stages.

IHT: