A Goldman Sachs partnership that specializes in selling derivatives to the U.S. municipalities has failed to pay $1.55 million in federal taxes, Reuters reports. The U.S. Internal Revenue Service (IRS) filed a federal tax lien against Goldman Sachs Mitsui Marine Derivative Products earlier in January 2011 for an unpaid balance of taxes from 2009.
The filing will protect IRS’ legal interest and make sure the federal government gets paid before other creditors. Goldman Sachs Mitsui, which initially was capitalized with $75 million, is a Delaware-based joint venture between Goldman Sachs and MitsuiMarine & Fire Insurance Company of Japan.
Click here for the story from Reuters.