Offshore compensation tax break bites the dust
Fri Oct 10, 2008
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
ISSN: 2151-1845 / CDC10004H
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