The IRS Won't Rule on Yahoo's Tax-Free Alibaba Spin-OffVW Staff
The IRS won’t be swinging one way or another on Yahoo’s tax-free Alibaba spinoff plan.
According to documentation filed with the Securities and Exchange Commission on Tuesday, the IRS notified Yahoo on September 2 that it will not grant its request for a letter ruling that its spinoff of its shares of Alibaba would be tax-free.
However, the tech company was careful to point out that the IRS has not explicitly concluded that its proposed transaction is taxable. Yahoo has since withdrawn . . .
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