Senator Ron Wyden wants to know why IRS has ignored hedge funds’ tax-avoidance strategy
By ReutersTuesday, June 17, 2014 7:53 EDT
(Reuters) – Senate Finance Committee Chairman Ron Wyden has asked the Obama administration why the United States failed to stop a tax-avoidance strategy used by hedge funds, including John Paulson’s Paulson & Co, Bloomberg reported.
Wyden asked the U.S. Treasury Department and the Internal Revenue Service what they had done to challenge funds that channel investments through insurance companies in tax havens as a way to lower fund managers’ personal income-tax bills, according to the report.
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