Hedge Funds

A Hedge-fund Manager Owes $1b In Taxes After A Loophole Closed

by businessinsider.com posted 2years ago 49 views
When hedge-fund manager John Paulson pays his tax bill this year, he may need to send 11 separate checks to the IRS. That's because Paulson currently owes $1 billion in taxes, according to The Wall Street Journal. The IRS only accepts checks that are worth less than $100 million. Paulson made billions betting against subprime mortgages right before the financial crisis of 2007-2008. The bet made $15 billion for his hedge fund and an additional $4 billion for himself.

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