It's a little complicated...but it's kinda devastating.
"Son of Boss" is the name of a Tax Scheme used by people understand all 7,300 pages of the U.S. Tax code to get out of paying as much taxes as they can.
Even John McCain was critical of this Tax Shelter...and in his words, that's exactly what it was...a Tax Shelter.
CNN has reported (and the video is right there below), that the IRS has collected $3.2 billion from 18,000 people who have used "Son of Boss", including $29 Million from the Marriott Corporation.
And would anyone care to guess who was head of the audit committee of the Marriott Board of Directors from 1993 to 1998?
C'mon, have you been paying attention to this blog?
In case you're wondering, Edward D. Kleinbard and Peter C. Canellos's original editorial can be found here. Their new Editorial, talking about Marriott Corp. (as referenced in the video above), can be found here.
