Give Back the AIG Bonus, Pay 130%

by James & Miel on March 28, 2009 · 0 comments

Those AIG guys just can’t win. The TaxProf Blog has reviewed two analysis of the recent anti-AIG bonus legislation. According to some commentators, people receiving AIG money will still need to calculate their taxable income assuming the bonus was received. Considering that the Alternative Minimum Tax is implemented and accounting for the impact of state and federal obligations, some recipients will be effective taxed at 130%.

Essentially, they lose money even if the bonuses are accepted. Its damned if you do, damned if you don’t. Talk about taxes choking wealth!

Click here for the story.



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