Time Warner’s well-timed tax break

By doris | Published: June 2, 2009

Full Story At money.cnn.com

NEW YORK (Fortune) — You don’t often get to use “Time Warner” and “hot stock” in the same sentence, given the company’s horrible investment performance over the years.

But Time Warner’s pending deal to unburden itself of AOL by dumping it onto its shareholders is one of those times, thanks to an insight I got from tax guru Bob Willens of Robert Willens LLC. Willens, who lives and breathes (and probably dreams about) the tax code, says that Time Warner’s plan to distribute AOL stock to its shareholders in a tax-free transaction is benefiting from a little-noticed change last year in the rules governing “hot stocks.”

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