The Democratic staff of the Senate Finance Committee has issued a report that calls nonqualified deferred compensation plans an unfair "tax avoidance" strategy and recommends ways to close "abusive loophole(s)" in the law.
The report also highlights other methods of "manipulating the timing of any taxes paid and minimizing the amount of tax that does get paid," and makes several suggestions it said will cut tax avoidance and will also make the tax code "fairer and simpler overall."
NQDC plans, however, are squarely in its sights.
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