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IRS
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Latest Headlines
FATCA law is little known--but could be tricky
We've heard a lot about Dodd-Frank and the upcoming (at some point) registration rule that will be imposed on many hedge funds. European, funds will have to content with the Alternative Investment Fund Managers Directive (AIFMD). Both laws have generated countless headlines. But there is a another
IRS files lien against Goldman Sachs partnership
Goldman Sachs Mitsui Marine Derivative Products--a partnership Goldman set up to trade derivatives as part of deals with various municipal entities--has been hit with a tax lien worth $1.5 million by the IRS, Reuters reports. The lien stems from unpaid taxes that accrued in 2009.
The IRS m
Banks criticized for Build America Bonds practices
The controversy over Goldman Sachs' ability to charge high fees for underwriting Build America Bonds ( Build America Bonds news) has been overshadowed by other news as of late.
Recall that the firm was criticized by states and municipalities who paid it "an average 37 percent more to in
What should Goldman Sachs do?
Lost in the hubbub over Goldman Sachs' ( GS ) blowout third-quarter earnings and ever rising bonus pool was the fact that the firm actually reduced the percentage of earnings it devoted to pay. Goldman typically devotes about half its net earnings to pay and benefits, but the past quarte
Next in the cross hairs: Total return swaps?
Are banks in for a lot of grief regarding their total return swaps business? Some are pointing to FINRA's $600,000 fine of Citigroup ( C )for the failure to control trading in total return swaps, according to the Financial Times . Dividends on U.S. stocks that foreign investors own are subjec
Finally, UBS, government deal announced
There was quite a build-up to this piece of news: UBS has agreed to turn over to the IRS details of 4,450 accounts, which hold around $418 billion. The account holders are suspected of tax evasion, and some will likely join the handful of American UBS clients who are now being prosecuted. Of cours
American clients of UBS turn themselves in
The big battle pitting American regulators against the vaunted Swiss banking giant UBS has taken an interesting turn. More American clients are voluntarily identifying themselves to the IRS, in hopes of winning leniency later on, reports USA Today . Recall that the government reached a deferred
