Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!! Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!!

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: ravenseye	10/14/2007 9:55:08 PM
	of 5673

I.R.S. Looks at Mortgage Securities By LYNNLEY BROWNING Published: October 13, 2007 The Internal Revenue Service is checking out dozens of participants in a financial arrangement to see if they are reaping illegal tax benefits by underreporting income on mortgage-backed securities, which make up the bulk of the multitrillion-dollar market for asset-backed securities.... nytimes.com ...Mr. Schott said the I.R.S. had looked “at a couple of cases and discovered some issues, and we’re expanding this to look at other cases.” He said he thought that “less than hundreds of billions of dollars” in interest income had been underreported, but he declined to be more specific. He added that the I.R.S. did not want to suggest that abuses were widespread “because there’s a very sensitive market.” While he said that approximately 20 to 30 companies involved in remics were under scrutiny, he declined to give their names, citing taxpayer confidentiality rules... ... Remics that violate the tax code, however, can lose their tax-free status, potentially causing either their sponsors or their investors to face a big tax bill.... IRS probing mortgage securities: report By MarketWatch Last Update: 10:54 AM ET Oct 13, 2007 WASHINGTON (MarketWatch) -- The Internal Revenue Service is taking a close look at participants in an arcane financial arrangement to see if they are gaining illegal tax benefits by under-reporting income on mortgage-backed securities, the New York Times reported Saturday.... marketwatch.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next