IRS issues guidance on MF Global missing customer funds

April 12, 2012 | By: Robert A. Green, CPA

As posted on the Commodity Customer Coalition (CCC) Website, the CCC requested tax guidance from the IRS on how to handle missing customer funds from MF Global for tax years 2011 and 2012.

The CCC website shows this IRS reply letter and the IRS tax guidance matches the tax guidance we gave in our blog The MF Global Tax Trap & How to Handle 2011 Tax Extensions.

CCC sent an email update to its members on April 12, 2012 which included our Forbes blog for further tax guidance. Excerpt:

Information for Your Tax Preparer
CCC members should consult with their own legal, tax or financial advisor before filing any tax returns with the Internal Revenue Service. The following is not meant to provide any legal or financial advice but rather provide CCC members with an update from the IRS and general information concerning MF Global tax issues.

1. IRS Responds to CCC on Tax Issues

2. article about MF Global Tax Issues