Yahoo CEO’s Turnaround Threatened by Alibaba Tax

Reuters: Yahoo may have to pay taxes on the $23 billion it hopes to get from the planned spinoff of its stake in Alibaba, threatening a key element of CEO Marissa Mayer’s turnaround strategy. Yahoo said the U.S. Internal Revenue Service had denied the company’s request for a private letter ruling on whether the spinoff of its stake in the Chinese e-commerce giant would be considered tax free.