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Jun 19, 2014 10:00:00 AM

Who Owns Your Tax Refund?

Are you among the multitude of banks that have faced the question “Does our tax refund belong to the bank or holding company?” Well, on Friday, June 13, Federal regulators issued final supplemental guidance on income tax allocation agreements involving holding companies and insured depository institutions. The issuance represents regulators’ efforts to eliminate confusion and bring closure to the debate around the ownership of tax refunds. 

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Topics: Regulations, Tax Refund