A group of Democratic representatives from the House Ways and Means Committee wrote a sternly worded letter to Treasury Secretary Henry Paulson warning him against expanding a controversial IRS Notice that allows banks to write off the tax losses of other banks they acquire.
The letter from Lloyd Doggett, D-Texas (pictured), and eight other representatives, cautioned Paulson against expanding the tax guidance to allow foreign banks to also write off the built-in losses of banks they acquire in the U.S.
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