Today's Word Is Shortly

The IRS warning on ETF tax deals turns on the words 'shortly after': put stocks in a new fund, swap them out fast and skip the tax, and it's suspect. How long is shortly? The ruling doesn't say. Funds that keep their stocks aren't covered. Comments are due October 28.

The IRS's warning on ETF tax deals turns on timing: swapping out the contributed stocks 'shortly after' an ETF is created is suspect, but the IRS has not said how long 'shortly' is, seeding an ETF with stocks it means to keep is not addressed, and comments are due by October 28.

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