Biden to propose new partnership rules as tax battle heats up

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...