Saturday, 20 September 2014
Last updated 17 hours ago
Jun 14 2012 | 4:29pm ETOriginal publication date: Jun 11, 2012
In order to compute accurate portfolio tax liabilities, tax professionals and compliance officers must comply with the following sections of the U.S. tax code: wash sales, straddles, constructive sales, qualified dividends, and short sales. However, vague and poorly defined tax code verbiage makes abiding by these sections very taxing. This paper offers guidelines based on ideas from the Economic Substance Doctrine and market risk management to facilitate compliance with these sections. In addition, we offer a more concrete, alternative definition of the term “substantially identical.” Lastly, the paper proposes that “substantially identical” and “offsetting positions” share enough in common and should be combined into a single term. We suggest this consolidation in order to make it easier for taxpayers to understand and more readily comply with the tax code.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.