US Treasury threatens crackdown on Wall Street tax-avoidance strategies - Financial Times

The US Treasury Department has signaled a potential crackdown on Wall Street tax-avoidance strategies, targeting practices it considers "potentially abusive."
The department is moving to limit the use of exchange-traded funds (ETFs) as a mechanism to sidestep taxable gains.
Officials indicated the action against ETF-based tactics could be an early step, with the possibility of targeting additional strategies in the future.
The measures reflect broader scrutiny of financial industry techniques used to reduce or defer tax liabilities.
The move suggests heightened regulatory attention on how investment vehicles are leveraged for tax efficiency, which could affect asset managers and investors relying on such approaches.