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IRS Provides Temporary Relief for Certain RICs to Comply with New SEC Money Market Fund Rules (Rev. Proc. 2016-31)

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The IRS has issued a procedure to provide temporary relief for certain money market funds (MMFs) that receive contributions from their advisors as the MMFs transition to comply with Securities and Exchange Commission (SEC) rules that change how certain MMF shares are priced. An MMF is a type of investment [...]


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