Senators propose curbing deductions for stock options
A bill (S 1491) from Sens. Carl Levin, D-MI, and John McCain, R-AZ, would require companies to deduct stock options in the same year and in the same amount as the options are expensed on the company's books. It would also eliminate the tax-favored treatment of options under Code Section 162(m). Levin said deductions for options far exceed the expense reported to shareholders and are costing the government billions in lost revenue. Similar proposals in the past failed to advance, but the increasing federal deficit and need for immediate additional revenue may increase interest. (Select News, 23 Jul 2009)
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