WASHINGTON -- The Internal Revenue Service has finished wrestling with a Congressional mandate to end deductions for lobbying expenses, and banks and other businesses will find their tax bills increasing as a result.

And for anyone who thinks lobbying consists only of padding down the marble halls of Congress in tasseled leather loafers, or wining and dining members at expensive restaurants, the IRS has some news:

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.