04/15/2010
https://www.congress.gov...
"How do we give a green light to the use of them to qualify this kind of investment under our Tax Code?"
"Well, isn't the tax that is being avoided the corporate tax which would be triggered if it was not qualified income under Section 851?"
"Does the IRS care about people circumventing our tax laws through the use of shell/sham corporations offshore?"
"Now, why do you think mutual funds are setting up these corporations offshore rather than here in the United States?"