Treasury takes actions to combat tax inversions

By Everett Rosenfeld & Eamon Javers, cnbc.com

The Treasury and the Internal Revenue Service took action against tax inversions Monday.

The issue of what are known as tax inversions—when a company buys a foreign firm to switch its tax domicile to a country with lower rates—has been a major policy point for President Barack Obama over the past few months.

In a series of new measures, the Treasury said it is seeking to reduce the benefits influencing—”and when possible, stop”—inversions. Still, Treasury Secretary Jack Lew said the administration is seeking congressional action to more fully address the issue.

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