Tax & Finance Updates — United States
Short, sourced notes on US tax and finance stories, with a particular eye on what matters to Indians filing in the United States. Every item links to the original report.
Summaries of reporting by the outlets named, not tax advice and not our analysis. Read the linked source before acting.
IRS warns on tax-cutting ETF strategies for wealthy investors
CNBC reports that the IRS and Treasury Department are scrutinizing certain exchange-traded fund strategies designed to significantly reduce tax liabilities for wealthy investors. The agency has indicated that individuals utilizing these tactics may need to justify their use.
Treasury, IRS warn on ETF strategy for avoiding income tax
CNBC reports that the IRS and Treasury have issued a warning regarding an ETF strategy used by wealthy investors to shield capital gains income from taxes. The agencies indicate that these investors may need to reconsider certain tax-deferral strategies related to ETFs.
IRS accepts fewer offers in compromise from taxpayers
CNBC reports that the Internal Revenue Service has been accepting far fewer deals from taxpayers seeking to resolve tax debts. Federal data shows a significant decline in the acceptance of 'offers in compromise' by the IRS.
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