s*********r
发帖数: 1 | 1 Jim Simons, RenTech Insiders to Pay Billions in Back Taxes
Jim Simons, RenTech Insiders to Pay Billions in Back Taxes
(Bloomberg) -- Jim Simons, one of the world’s most successful investors,
has just been handed a rare defeat.
The founder of quantitative hedge-fund manager Renaissance Technologies and
his colleagues will pay billions of dollars in back taxes, interest and
penalties to resolve one of the biggest tax disputes in U.S. history, under
the terms of a deal reached by the firm and the Internal Revenue Service.
Renaissance Chief Executive Officer Peter Brown disclosed the agreement
Thursday in a letter to investors seen by Bloomberg. While it doesn’t say
how much money will be paid, U.S. Senate investigators in 2014 pegged
potential unpaid taxes in the case at $6.8 billion, before interest and
penalties.
The IRS has long contended that Renaissance mischaracterized profits from
its flagship Medallion Fund, using a complex options arrangement to
transform short-term capital gains into long-term gains, which are taxed at
a lower rate.
Medallion is owned almost exclusively by current and former employees of the
East Setauket, New York-based firm. Renaissance funds that are open to
outsiders, such as the institutional equities fund, aren’t part of the tax
dispute.
Under the terms of the deal, Simons and six other current and former members
of Renaissance’s board will pay 100% of the additional tax that would have
been due if they had characterized the gains as short-term, as the IRS said
they should.
Simons, 83, who served as chairman of Renaissance during the period when the
options were in use, paid an additional $670 million to the IRS, according
to the letter. That resolves another problem that the agency identified with
the options arrangements, involving dividend withholding tax. | s*********r
发帖数: 1 | 2 IRS掀桌子了
and
under
【在 s*********r 的大作中提到】
: Jim Simons, RenTech Insiders to Pay Billions in Back Taxes
: Jim Simons, RenTech Insiders to Pay Billions in Back Taxes
: (Bloomberg) -- Jim Simons, one of the world’s most successful investors,
: has just been handed a rare defeat.
: The founder of quantitative hedge-fund manager Renaissance Technologies and
: his colleagues will pay billions of dollars in back taxes, interest and
: penalties to resolve one of the biggest tax disputes in U.S. history, under
: the terms of a deal reached by the firm and the Internal Revenue Service.
: Renaissance Chief Executive Officer Peter Brown disclosed the agreement
: Thursday in a letter to investors seen by Bloomberg. While it doesn’t say
| a********c
发帖数: 3657 | 3 这算啥，对rentec就是毛毛雨，真正要命的是irs把current employee的401k fund搞了
那才能搞痛rectec |
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