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March 30, 2009
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Ouch, Now That Hurts: Returned Bonuses May Be Taxable!
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 by shifting it forward. This is a no-no, but obviously it's pretty eas...
