COVERAGE GAP

Crackdown on Wealthy Tax-Loss Harvesting Strategy

Treasury Secretary Bessent and the IRS issued a warning on an ETF tax avoidance strategy used by wealthy investors.

COVERAGE GAPLEFT SOURCES ONLY

WHAT'S CONFIRMED

▸Wealthy investors use a tax strategy involving ETFs to reduce capital gains tax liability. — NPR Economy, CNBC

NOT REPORTED ELSEWHERE

▸Tax-loss harvesting allows millionaires and billionaires to reduce their taxes to zero. — NPR Economy

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