Treasury Secretary Bessent resolves tax dispute with IRS

Key facts

• Treasury Secretary Bessent has settled a tax issue.
• The issue had previously put Bessent at odds with the IRS.
• Bessent's prior tax position conflicted with the IRS's views.

Treasury Secretary Bessent has resolved a tax dispute that had previously created a conflict with the Internal Revenue Service. The issue arose from a tax position Bessent had taken that was contrary to the views of the IRS, the agency he now oversees.