IRS seeks back taxes from NYSE

US authorities are looking to collect back taxes from NYSE Euronext after questioning tax benefits the company received from $161m (£107m) of compensation paid to former chief executive Dick Grasso. Grasso resigned from the parent of the New York Stock Exchange in 2003 amid public outrage over the size of his pay package, which topped $180m. He was viewed at the time as a symbol of Wall Street excess. The IRS has been taking an increasingly tough stance on deductions that companies take for highly compensated executives.