Popular hedge play may come under IRS attack
Popular hedge play may come under IRS attackThe Internal Revenue Service is taking a dim view of prepaid variable forward contracts, a type of stock collar sold to wealthy investors as a way to hedge, defer taxes and generate cash. If the IRS moves against the practice, it could be "one of the biggest black eyes" ever for Wall Street and could bring major disruptions to the wealth management industry, one executive said.
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posted by Victor Lloyd Smith @ 1:16 PM
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