IRS May Need Legislative Fix For Reinsurance Tax Strategy

By Eric Kroh (April 27, 2015, 5:30 PM EDT) -- The Internal Revenue Service acknowledged in guidance Thursday the futility of crafting a bright-line asset ratio test to crack down on hedge funds using foreign reinsurance companies to achieve preferential tax rates, and experts say the agency may need an assist from Congress if it wishes to effectively curtail the arrangement....

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