Wednesday, 17 December 2014
Last updated 3 hours ago
Sep 28 2009 | 11:33am ET
The U.S. Internal Revenue Service is setting its sights on hedge funds.
The tax agency is pushing its New York-based staff to launch cases against hedge fund and other companies that have sought to skirt paying taxes with loans that originate in the U.S. but are approved offshore. The move is the latest by the IRS to cut down on alleged tax evasion by companies with offshore entities.
“We understand that foreign corporations and nonresident aliens may have used other strategies to originate loans in the United States, giving rise to effectively connected income,” Steven Musher, associate chief counsel for international at the IRS, wrote to New York field director Kathy Robbins. “We encourage you to develop these cases, and we stand ready to assist you in the legal analysis.”
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.