Difficult Derivatives


ON THE RECORD

“It would be easy for us to dismiss [derivatives] as [investment products] only sophisticated investors use minimizing any impact to our economy. …If we think back to the collapse of Enron, or even farther back to Long-Term Capital Management, we understand how the abuse of derivatives can have a negative impact not only on the parties to the contract, but also on the market and the economy.”

—Rep. Richard Neal, D-Mass., chairman of the House Ways and Means Select Revenue Measures Subcommittee, at a March 5 hearing on tax treatment of derivatives

Source: House Ways and Means Committee, http://waysandmeans.house.gov .


 

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These year-end tax planning strategies address recent tax law changes enacted to help taxpayers deal with the pandemic, such as tax credits for sick leave and family leave and new rules for retirement plan distributions, as well as techniques for putting your clients in the best possible tax position.

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