Yesterday, we learned that the IRS can conceivably tax even those who returned their bonuses to AIG using the tax law principle of constructive receipt.
Today, there comes to light an e-mail sent this past Friday to AIG employees from someone with the screenname of “Bottom of AIG’s Food Chain.” It generally portrays/betrays the angst felt [...]
A tax law doctrine known as “constructive receipt” could put those AIG employees who returned their bonuses in jeopardy of having to pay taxes on them anyway.
Goes like this: Constructive receipt prevents people from gaming the system, say by performing work in late 2008 and asking to be paid in 2009 to reduce tax liability [...]
The Associated Press recently reported that 600 executives at the banks just bailed out by the U.S. government took in $1.6 billion in salaries, bonuses and perks last year. That comes to about $2.6 million per exec, but we all know that not all execs are created equal.
Then came this news from the Government Accountability [...]
