TV News LIES

Tuesday, Feb 21st

Last update05:20:13 AM GMT

You are here News Of Special Interest Inquiry on Tax Strategy Adds to Scrutiny of Finance Firms Including Bain Capital

Inquiry on Tax Strategy Adds to Scrutiny of Finance Firms Including Bain Capital

E-mail Print PDF

Baon Capital inquiryThe New York attorney general is investigating whether some of the nation’s biggest private equity firms have abused a tax strategy in order to slice hundreds of millions of dollars from their tax bills, according to executives with direct knowledge of the inquiry.

The attorney general, Eric T. Schneiderman, has in recent weeks subpoenaed more than a dozen firms seeking documents that would reveal whether they converted certain management fees collected from their investors into fund investments, which are taxed at a far lower rate than ordinary income.

Among the firms to receive subpoenas are Kohlberg Kravis Roberts & Company, TPG Capital, Sun Capital Partners, Apollo Global Management, Silver Lake Partners and Bain Capital, which was founded by Mitt Romney, the Republican nominee for president. Representatives for the firms declined to comment on the inquiry.

Mr. Schneiderman’s investigation will intensify scrutiny of an industry already bruised by the campaign season, as President Obama and the Democrats have sought to depict Mr. Romney through his long career in private equity as a businessman who dismantled companies and laid off workers while amassing a personal fortune estimated at $250 million.

More...


Most Recent Related Stories...


US officer in charge of Trump's nuclear football 'poses for photo with Mar-a-Lago guest'

Nuclear football photo taken at Mira LargoA member of Donald Trump’s private Florida club has posted an image of himself posing with...

Edmonia Lewis: Why Google celebrates her today

Edmonia LewisMary Edmonia Lewis was a trailblazer who shattered racial barriers as the first professional African American...

Pakistan: Deadly bomb blast rips through Lahore rally

Pakistan blastA powerful bomb blast on Monday ripped through a protest in the Pakistani city of Lahore,...

John Hurt, Star Of ‘The Elephant Man’ And ‘1984,’ Dies At 77

john hurtJohn Hurt, the intense British actor who mesmerized audiences in starring roles in “The Elephant Man”...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!