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JUL 03, 2013 - Yahoo! News

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IRS proposes tax relief for some money fund investors

By Sarah N. Lynch WASHINGTON (Reuters) - The Internal Revenue Service on Wednesday proposed new guidance to address some of the tax concerns the money market fund industry has raised about potential industry reforms. The Securities and Exchange Commission has proposed reforms to the $2.6 trillion money market fund industry intended to reduce the risk of abrupt withdrawals from money funds. The centerpiece of the proposal calls for prime funds used by institutional investors to make a transition from a stable price of $1 per share to a floating net asset value. ...

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