Story · US Treasury
US Treasury Flags Concern Over Potentially Abusive Tax Trades
The US Treasury Department has expressed concern over high-profile tax strategies touted by Wall Street, including 351 conversions, box-spread exchange-traded funds, and products that offset ordinary income. Speaking at a Wall Street Tax Association seminar, officials Kevin Salinger and Erika Nijenhuis stated the department does not wish to over-engineer rules but cannot ignore a market developing around transactions with results Congress did not intend. The comments come amid a boom in tax alpha strategies that help wealthy American investors reduce or delay taxes. The Treasury stopped short of announcing new guidelines, instead calling for a serious dialogue with the market before positions harden and investors face more risk.
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