It’s a great time to be extremely rich, thanks to the Trump administration making sure that the Internal Revenue Service can’t touch the sleazy tax shelters that wealthy companies and individuals use to avoid paying their fair share.

Very quietly, the Treasury Department is rolling back several Biden administration rules that made it easier for the agency to detect, audit, and prosecute companies and people using shady tax shelters. Now companies using these aggressive strategies to avoid taxes are not even required to report them to the agency, so good luck to IRS auditors tasked with finding those transactions. Also gone? A rule that imposed penalties on rich people using an insurance tax scheme that multiple courts have invalidated.

So, instead of recapturing $100 billion over 10 year

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