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Yahoo Stock Down As IRS Reconsiders Spinoff Rules

  • Re/code, Wednesday, May 20, 2015 9:17 AM
Yahoo is taking a pounding on Wall Street on concerns that a potential change in U.S. tax law could affect the company’s plans to unload its stake in Alibaba Group Holding. “The potential change … could complicate Yahoo’s plan announced in January to spin off its shares in Alibaba tax-free,” Reuters reports. “The IRS said it was considering changing its rules regarding spinoffs and would suspend requests starting on Tuesday.”

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