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Senate Holds Hearing Today on Taxation of Mutual Fund Commodity Investments

Paul Caron
,

Senate LogoThe Senate Permanent Subcommittee on Investigations holds a hearing today on Taxation of Mutual Fund Commodity Investments to examine the issuance of over 70 private letter rulings by the IRS allowing mutual funds to make unlimited indirect investments in commodities through controlled foreign subsidiaries or commodity-linked notes, despite longstanding statutory restrictions on mutual fund investments in commodities. (For more, see press release and letter from Sens. Coburn and Levin to IRS.)

  • Douglas H. Shulman (Commissioner, IRS)
  • Emily McMahon (Acting Assistant Secretary for Tax Policy, U.S. Treasury Department)

Update:  Bloomberg, IRS Should End Commodity Mutual-Fund Runaround, Levin Says

About the Author

Paul Caron Avatar
Paul Caron
Paul Caron was named Duane and Kelly Roberts Dean of Pepperdine University School of Law on June 1, 2017. Dean Caron joined the Pepperdine faculty in 2013 after serving as the Dorothy and Leonard Straus Distinguished Visiting Professor of Law in the spring semesters of 2010 through 2013. He served as Associate Dean for Research and Faculty Development at Pepperdine in 2015-2017. Before coming to Pepperdine, he was Associate Dean of Faculty and Charles Hartsock Professor of Law at the University of Cincinnati College of Law.
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