More bad news for corporate executives caught in the stock options backdating quagmire: Millions in unpaid taxes on the gains will be due by the end of this year. In a recent bulletin that is expected to become final soon, the IRS followed through on threats to cut no slack, saying that executives who received backdated options and whose companies are restating earnings should pay the additional tax. The ruling could affect the top 20 officers at 152 companies that have disclosed backdating issues.
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Posted on Friday, November 10th, 2006. Filed under: In-House Counsel, Law Misc
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