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Whistleblower's expert says Vanguard owes billions in back taxes - philly-archives
Vanguard's low expense fees may be coming to an end.
"A tax expert retained by former Vanguard Group tax lawyer David Danon in his whistle-blower complaints against the mutual fund giant has sent the IRS a report estimating the company's unpaid federal income tax liabilities at $34.6 billion from 2007 to 2014."
"Danon says Vanguard has been able to charge lower fees by underpaying its income taxes."
I didn't know this about Vanguard... but the investors of Vanguard shares... ARE the owners of Vanguard! I predict a large class-action lawsuit to represent client/owner interests.
https://investor.vanguard.com/what-we-offer/why-vanguard
So much for John Bogle's "Battle for the Soul of Capitalism".
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Perhaps the day will come where people will ask:
- "Are you a fiduciary advisor?"
- "No, I have a higher standard than that. I'm an insurance agent."
Vanguard's low expense fees may be coming to an end.
"A tax expert retained by former Vanguard Group tax lawyer David Danon in his whistle-blower complaints against the mutual fund giant has sent the IRS a report estimating the company's unpaid federal income tax liabilities at $34.6 billion from 2007 to 2014."
"Danon says Vanguard has been able to charge lower fees by underpaying its income taxes."
I didn't know this about Vanguard... but the investors of Vanguard shares... ARE the owners of Vanguard! I predict a large class-action lawsuit to represent client/owner interests.
https://investor.vanguard.com/what-we-offer/why-vanguard
So much for John Bogle's "Battle for the Soul of Capitalism".
----------
Perhaps the day will come where people will ask:
- "Are you a fiduciary advisor?"
- "No, I have a higher standard than that. I'm an insurance agent."