IRS Cracks Down Hedge Funds; Ends Basket Options Tax Strategy

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IRS Cracks Down Hedge Funds; Ends Basket Options Tax Strategy

The U.S. Internal Revenue Service (IRS) cracked down hedge funds by issuing guidelines designed to end effectively “basket options,” a financial strategy used to avoid billions of dollars in capital gains taxes.

Hedge funds using basket options are required to report it on their tax returns under the guidelines issued by the IRS on Wednesday. The firms are also required to correct their past returns if they used the tax strategy since January 1, 2011.

RV Capital 1H22 Letter to Co-Investors in Business Owner

write 1603127795RV Capital Co-Investor Letter for the first half ended June 2022. Q2 2022 hedge fund letters, conferences and more Dear Co-Investors,

IRS responded to Sen. Wyden’s’ demand

Last month, Senator Ron Wyden, a ranking member of the Senate Committee on Finance