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- FebusFebus
  ·2025-08-29
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  ·2024-10-05
  $DiDi Global Inc.(DIDIY)$ 666
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- FebusFebus
  ·2021-09-04
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  The biggest tax evasion scandal in history! The Renaissance Fund may pay nearly $7 billion in back taxes.
  全球最成功的投资者之一、对冲基金文艺复兴科技公司的创始人吉姆-西蒙斯（Jim Simons）刚刚遭遇了一次罕见挫败。根据文艺复兴科技公司与美国国税局（IRS）达成的和解协议，西蒙斯和他的几位同事将
  The biggest tax evasion scandal in history! The Renaissance Fund may pay nearly $7 billion in back taxes.
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10:17","market":"us","language":"zh","title":"The biggest tax evasion scandal in history! The Renaissance Fund may pay nearly $7 billion in back taxes.","url":"https://stock-news.laohu8.com/highlight/detail?id=2164860824","media":"新浪美股","summary":"全球最成功的投资者之一、 对冲基金文艺复兴科技公司的创始人吉姆-西蒙斯（Jim Simons）刚刚遭遇了一次罕见挫败。\n根据文艺复兴科技公司与美国国税局（IRS）达成的和解协议，西蒙斯和他的几位同事将","content":"<p>Jim Simons, one of the world's most successful investors and founder of hedge fund Renaissance Technologies, has just suffered a rare setback.</p><p>Under a settlement between Renaissance Technologies and the Internal Revenue Service (IRS), Simmons and several of his colleagues will pay billions of dollars in back taxes, interest, and penalties to settle one of the largest tax disputes in U.S. history.</p><p>Renaissance’s current CEO, Peter Brown, disclosed the settlement in a letter to investors on Thursday. Although the letter did not disclose the specific amount of the settlement, U.S. Senate investigators determined in 2014 that the unpaid taxes in the case, before interest and penalties, amounted to $6.8 billion.</p><p>The IRS has long argued that Renaissance misrepresented the profits of its flagship fund, Medallion, by using a complex option arrangement to convert short-term capital gains into long-term gains, the latter of which have a lower tax rate.</p><p>Medallion is one of the best-performing funds in history, with an annualized return of approximately 40% since its inception in 1988. The fund is almost entirely owned by current and former employees of Renaissance. Publicly available funds, such as Renaissance's institutional equity funds, are not covered by this tax dispute.</p><p>Under the terms of the agreement, Simmons and six other current and former members of Renaissance's board of directors will pay 100% of the additional tax if they describe the gains as short-term capital gains, as required by the IRS.</p><p>These individuals include Renaissance's current CEO, Brown, and its former CEO, Robert Mercer, a prominent conservative political donor and a key supporter of former U.S. President Donald Trump. Renaissance board members will also pay interest and penalties, the exact amount of which is unknown.</p><p>Other Medallion investors will pay an additional 80% tax on short-term capital gains, as well as interest.</p><p>In addition, Simmons paid an additional $670 million to the IRS to settle another issue the IRS discovered in Renaissance's option arrangement, involving Dividend withholding tax.</p><p>In his letter, Brown wrote that Renaissance's board of directors chose to settle \"rather than risk litigation that could lead to worse outcomes, including harsher terms and penalties.\" He said the company spent years dealing with the IRS Appeals Office. If taxpayers cannot reach a settlement there, the dispute is usually transferred to the U.S. Tax Court or other federal courts.</p>","source":"sina_us","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The biggest tax evasion scandal in history! The Renaissance Fund may pay nearly $7 billion in back taxes.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe biggest tax evasion scandal in history! The Renaissance Fund may pay nearly $7 billion in back taxes.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪美股</strong><span class=\"h-time small\">2021-09-04 10:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Jim Simons, one of the world's most successful investors and founder of hedge fund Renaissance Technologies, has just suffered a rare setback.</p><p>Under a settlement between Renaissance Technologies and the Internal Revenue Service (IRS), Simmons and several of his colleagues will pay billions of dollars in back taxes, interest, and penalties to settle one of the largest tax disputes in U.S. history.</p><p>Renaissance’s current CEO, Peter Brown, disclosed the settlement in a letter to investors on Thursday. Although the letter did not disclose the specific amount of the settlement, U.S. Senate investigators determined in 2014 that the unpaid taxes in the case, before interest and penalties, amounted to $6.8 billion.</p><p>The IRS has long argued that Renaissance misrepresented the profits of its flagship fund, Medallion, by using a complex option arrangement to convert short-term capital gains into long-term gains, the latter of which have a lower tax rate.</p><p>Medallion is one of the best-performing funds in history, with an annualized return of approximately 40% since its inception in 1988. The fund is almost entirely owned by current and former employees of Renaissance. Publicly available funds, such as Renaissance's institutional equity funds, are not covered by this tax dispute.</p><p>Under the terms of the agreement, Simmons and six other current and former members of Renaissance's board of directors will pay 100% of the additional tax if they describe the gains as short-term capital gains, as required by the IRS.</p><p>These individuals include Renaissance's current CEO, Brown, and its former CEO, Robert Mercer, a prominent conservative political donor and a key supporter of former U.S. President Donald Trump. Renaissance board members will also pay interest and penalties, the exact amount of which is unknown.</p><p>Other Medallion investors will pay an additional 80% tax on short-term capital gains, as well as interest.</p><p>In addition, Simmons paid an additional $670 million to the IRS to settle another issue the IRS discovered in Renaissance's option arrangement, involving Dividend withholding tax.</p><p>In his letter, Brown wrote that Renaissance's board of directors chose to settle \"rather than risk litigation that could lead to worse outcomes, including harsher terms and penalties.\" He said the company spent years dealing with the IRS Appeals Office. If taxpayers cannot reach a settlement there, the dispute is usually transferred to the U.S. Tax Court or other federal courts.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-09-03/doc-iktzscyx2003186.shtml\">新浪美股</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c62fac21f207b091fa51358b3caf49dc","relate_stocks":{},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-09-03/doc-iktzscyx2003186.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164860824","content_text":"全球最成功的投资者之一、 对冲基金文艺复兴科技公司的创始人吉姆-西蒙斯（Jim Simons）刚刚遭遇了一次罕见挫败。\n根据文艺复兴科技公司与美国国税局（IRS）达成的和解协议，西蒙斯和他的几位同事将补缴数十亿美元的税款、利息和罚款，以了结美国有史以来最大的税务纠纷之一。\n文艺复兴现任CEO彼得-布朗（Peter Brown）周四在给投资者的一封信中披露了这一和解协议，虽然信中没有透露具体的和解金额，但美国参议院调查人员在2014年认定，该案件未计入利息和罚款前的未缴税款高达68亿美元。\n美国国税局长期以来一直认为，文艺复兴对其旗舰基金Medallion的利润进行了错误描述，使用了一种复杂的期权安排，将短期资本利得转化为长期利得，后者的税率较低。\nMedallion是历史上表现最好的基金之一，自1988年成立以来，年化回报率约为40%。该基金几乎完全由文艺复兴的现任和前任员工所有。文艺复兴的机构股票基金等向外界开放的基金不在此项税收纠纷的范围之内。\n根据协议条款，西蒙斯和其他六名文艺复兴董事会现任和前任成员将支付100%的附加税，如果他们按照美国国税局的要求，将收益描述为短期资本利得的话。\n这些人包括文艺复兴现任CEO布朗，以及前任CEO罗伯特-默瑟（Robert Mercer），他是著名的保守派政治捐赠者，也是美国前总统特朗普的重要支持者。文艺复兴董事会成员还将支付利息和罚金，具体金额不详。\n其他Medallion投资者将为短期资本利得支付80%的附加税以及利息。\n此外，西蒙斯还向美国国税局另外支付了6.7亿美元，以了结美国国税局在文艺复兴的期权安排中发现的另一个问题，涉及股息预扣税。\n布朗在信中写道，文艺复兴董事会选择了和解，“而不是冒着诉讼可能导致更糟糕的结果，包括更严厉的条款和处罚的风险”。他说，该公司花了数年时间与美国国税局上诉办公室打交道。如果纳税人无法在那里达成解决方案，争议通常会转移到美国税务法院或其他联邦法院。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":true}