Daily Wrap – IRS Tax Prompts Simplification; Metz Departs RiverNorth
Sep 22, 2015
Recently finalized tax rules could force greater simplification of equity-linked structures, as dealers find ways to avoid convoluted equivalence tests that could result in end clients paying U.S. withholding tax. The Internal Revenue Service last month published finalized rules for Code 871(m), which seeks to tax dividends paid by underlyings used in swaps transactions. Additions to the finalized rules could add time consuming and costly layers to trading transactions deemed complex by a convoluted IRS equation. In the People and Firms section, Eric Metz has left RiverNorth in Chicago.
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