Offshore compensation tax break bites the dust

Fri Oct 10, 2008

Read more:




A Congressional bid to make hedge fund managers pitch in $25 billion to help defray the cost of the $700-billion financial bailout package may not turn out to be the boon for the U.S. Treasury that its promoters are anticipating.

After trying but failing last year to pass a bill taxing offshore deferred compensation, Senate Democrats tucked the measure into the recently adopted bailout plan. The change eliminates a tax dodge popular with hedge fund managers that allows them to defer taxes on income by salting the money away for extended...

TAKE A FREE TRIAL

The full contents of this article are available to active AR subscribers and trialists only.

To continue reading please,
take a free trialsubscribe or log in to AR.

Subscribe

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now