New York Mets owner and hedge fund titan Steve Cohen is fighting an Internal Revenue Service bid to force him and other money managers to pay additional self-employment taxes on income from years a…
, was limited partner of his firm in 2015 and 2016.
Hedge fund titan Steve Cohen is locked in a dispute with the IRS over interpretation of a 69-year-old tax law.“Since it’s an ongoing charge year after year after year, it will be a meaningful drain” for money managers, Anthony Daddino, a managing partner at law firm Meadows Collier, told Bloomberg. In 2018, the IRS launched a campaign to scrutinize businesses over whether they qualified as “limited partnerships” that were thus exempt from self-employment tax.
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