Yahoo! Inc. (NASDAQ:YHOO) has moved to quell suggestions that it’s impending spinoff of stakes in Alibaba Group Holding Ltd (NYSE:BABA) could come under pressure on the IRS changing its regulations with regards to tax-free spinoffs. The embattled search giant has already suggested that any changes carried out by the IRS will not affect its spin-off plans as it had filed for the same, prior to the proposed changes. Speaking to CNBC, Axiom Capital Management, Victor Anthony, reiterated that the 7.6% sell off on the stock on the tax concerns presents a perfect buy opportunity for the stock.

Yahoo! Inc. (NASDAQ:YHOO) on its defense affirms that the IRS statement was not in any way directed to its spinoff, slated for the fourth quarter.

“I think the IRS submissions was somewhat ambiguous because it wasn’t clear whether or not it applied to spinoff submission as of yesterday or any future submission that they received.[..] I happen to think this does not apply to Yahoo at all, so I think this is an amazing opportunity,” said Mr. Antony

Yahoo closed on the red going down by 7.6% amidst concerns that a change in the IRS tax structure could have resulted in the company incurring up to $16n billion in taxes. It could have diluted shareholders investments. It remains to be seen if the IRS will stick to what Yahoo! Inc. (NASDAQ:YHOO) is saying by not imposing other regulations to spinoffs already filed.

However, a potential spinoff of Yahoo Japan should be affected by any tax changes that the IRS implements according to Mr. Anthony. “I think Yahoo! Inc. (NASDAQ:YHOO) has plans in the future to possibly spinoff that as well and we will see how that goes but it’s a much smaller impact looking at roughly $4 billion in taxes.

Given the current political environment where taxes have become a key point of focus for regulators, some people would argue that Yahoo is being unpatriotic for seeking avenues to shield itself from taxes. Anthony believes Yahoo! Inc. (NASDAQ:YHOO) just like any other public company is obliged to guarantee maximum shareholder value as long as it plays by the rules.

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