Freddie Mac May Owe $750 Million in Taxes
- Share via
Freddie Mac, the second-largest U.S. mortgage buyer, said its accounting for derivatives trades that led the company to understate income for the last three years may result in a $750-million tax liability.
The Internal Revenue Service has inquired about the trades as part of the company’s earnings restatement, which may total about $4.5 billion, McLean, Va.-based Freddie Mac said. Derivatives are financial contracts tied to financial instruments, currencies and interest rates.
From Bloomberg News
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
