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The Senate Homeland Security and Government Affairs Permanent Subcommittee on Investigations announced a hearing titled "Abuse of Structured Financial Products: Misusing Basket Options to Avoid Taxes and Leverage Limits." The hearing will examine a set of transactions that utilize financial engineering and structured financial products to effect attempts to avoid paying U.S. taxes on short-term capital gains. Witnesses will include representatives of major financial institutions, as well as from a nonprofit institution and the U.S. Government Accountability Office. A witness list will be

The Senate Finance Committee announced it will hold a hearing on July 22, 2014 to discuss corporate inversions as well as other international tax issues. According to a letter written by Secretary of the Treasury Jacob Lew to the the House Committee on Ways and Means, there have been recent reports of a number of corporate inversion transactions "designed to change the tax domicile of a U.S.-based multinational firm" involving the purchase of a foreign corporation, the transfer of tax domicile to the foreign firm's country of incorporation, and the shifting of tax liability for the combined