The following letter was sent to SEC Chair Mary Schapiro and IRS Commissioner Doug Shulman on “tax day” with the hope they will jointly work at restoring the integrity of cash flow statements, without question the most important analytical tool for investment advisors like myself. It is simply astonishing, given their material nature, that listed companies are not fully disclosing purchased and accumulated net operating losses nor the impact of complying with the “fractions rule” in the case of private equity partnerships. (more…)
Posts Tagged ‘treasury 2012 revenue guidelines’
** June 7, 2011 ** Letter to SEC Chair and IRS Commissioner – Tax Deduction Pyramid Scheme
Posted in Uncategorized, tagged ABA tax section, carried interest, Curt Wilson, doug shulman mark zehner, fractions rule, ge, George Roberts, hedge funds, Henry Kravitz, irs, kkr, mary schapiro, net operating losses, paul volcker, Private Equity, public pensions, repeal of fractions rule, Sanford Presant, sec, Tax Equity, tax exempt, treasury 2012 revenue guidelines, Wayne Pressgrove on June 7, 2011 |
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