Fundsters interested in mutual fund tax reform may want to look at Chuck Jaffe
's column yesterday. In MarketWatch
Jaffe explains the logic behind the proposal, which would treat traditional open-ended mutual funds the same as ETFs and individual stocks for tax purposes, allowing shareholders to wait to pay taxes on the funds' gains until they sell their shares.
The U.S. House of Representatives passed the Regulated Investment Company Modernization Act
on Wednesday (see The MFWire, 9/30/2010
). Yet Jaffe isn't confident that it will pass the Senate; he sees the bill as "too lightweight to get through on its own."
Neil Anderson, Managing Editor
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