July 25, 2011 09:58 AM | Permalink |
Senator Carl Levin has introduced S. 1346, the Stop Tax Haven Abuse Act (the “Stop Act”) which includes important new rules to deter offshore transactions designed to avoid U.S. income taxes. This report provides a summary of some of the most noteworthy aspects of the Stop Act. The provisions of the bill are explained in their entirety in the appendix.