IRS Targets 200 Execs For Evading Options Taxes

from the loopholes,-loopholes dept

theodp writes “The IRS is targeting nearly 200 corporate execs for failure to pay taxes on stock-option profits transferred to family partnerships and similar entities. Thus far, the investigation’s identified 42 companies with unreported exec income of $700+ million – “household names” according to the IRS. Citing federal tax-privacy laws, IRS officials declined to identify any of the companies or execs, who claimed to be entitled to up to 30 years to pay their taxes. SEC Chairman William Donaldson lauded the IRS announcement.” From the description, it sounds like a pretty typical loophole that people try to take advantage of all the time. In fact, it’s quite possible that some of the execs will claim that this isn’t actually illegal under current law.

Add Your Comment

Your email address will not be published. Required fields are marked *

Have a Techdirt Account? Sign in now. Want one? Register here

Comment Options:

Make this the or (get credits or sign in to see balance) what's this?

What's this?

Techdirt community members with Techdirt Credits can spotlight a comment as either the "First Word" or "Last Word" on a particular comment thread. Credits can be purchased at the Techdirt Insider Shop »

Follow Techdirt

Techdirt Daily Newsletter

Techdirt Deals
Techdirt Insider Discord
The latest chatter on the Techdirt Insider Discord channel...