Companies can voluntarily pay the additional taxes rank-and-file workers face because they were issued backdated stock options, the IRS said Thursday.The Internal Revenue Service initiative affects the additional 20 percent tax and any interest employees would owe after exercising backdated stock options. The IRS said its program would help employees who might be unaware that they held backdated stock options.
Federal authorities have been investigating whether companies have backdated the exercise price of the options to a date when the price was lower, making them more lucrative for the holders. The government is scrutinizing the options practices of nearly 140 firms, and many others are conducting internal reviews of their stock option plans. IRS Commissioner Mark Everson said the plan doesn't extend to "the executives and insiders who were the principal beneficiaries of the backdating schemes."
Source: chicagotribune.com
Tags: rank-and-file | backdated | workers | voluntarily | unaware | taxes | stock | scrutinizing | reviews | program | price | practices | Percent | others | option | making | lucrative | lower | issued | investigating | initiative | holders | Government | Firms | Employees | date | CONDUCTING | authorities | affects | Additional | Washington | Stuff | SERVICE | REVENUE | money | irs | internal | companies
No comments:
Post a Comment