Yahoo (YHOO) shares got a boost on Tuesday after the company announced it was ready to spin off its $22 billion stake in eCommerce giant Alibaba (BABA). That's despite investors concerns of a multi billion dollar tax charge on the deal. The Internal revenue service has so far denied Yahoo's request for an advance decision on the expected tax break but Yahoo's board is going ahead with the spinoff regardless. Yahoo declared in a filing that; 'Neither this ongoing guidance project nor the IRS’s decision not to rule with respect to the Abaco spinoff transaction changes the current law applicable to the proposed spinoff.' According to the latest reports the IRS has communicated to Yahoo that future tax guidance would not be applied retroactively to transactions that have already been completed. Despite the risk, Yahoo CEO Marissa Mayer is working to silence critics and save around $9 billion in taxes by divesting the 15 percent stake in Alibaba. The company estimates that the deal will be completed by the end of the year. The spinoff, named Abaco Holdings, will trade under the AABA ticker symbol and will be listed on the Nasdaq. It will also include Yahoo's small business unit. Alibaba shares have taken a hit this year, slumping around 45 percent, meaning that Yahoo's stake in the company is now worth significantly less than when the company was trading at highs. Mayer has faced continued criticism from investors as the Yahoo continues to struggle three years after Mayer took charge. Alibaba on the other hand is looking to India to prop up its slowing growth. The online seller made a second undisclosed investment in Indian mobile payments company Paym this week, pushing the startup valuation to over $1 billion. Paym reports to have over 100 million users of its digital wallet service which allows customers to buy online without using credit cards or banks.