HR 3923
110th Congress
House
Taxation
Commerce
Foreign Trade and International Finance
Foreign corporations
Income tax
Labor and Employment
Tax exclusion
Tax-deferred compensation plans
Offshore Deferred Compensation Reform Act of 2007
Introduced: October 22, 2007
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 22, 2007
Referred to the House Committee on Ways and Means.
Oct 22, 2007
Sponsor introductory remarks on measure. (CR E2192-2193)
Oct 22, 2007
Introduced in House
Plain-English summary
Offshore Deferred Compensation Reform Act of 2007 - Amends the Internal Revenue Code to require the inclusion in gross income for income tax purposes of employee compensation deferred under a nonqualified deferred compensation plan of a nonqualified foreign corporation when there is no substantial risk of forfeiture of the rights to such compensation. Defines "nonqualified foreign corporation" as any foreign corporation unless substantially all of its income is: (1) effectively connected with a trade or business in the United States; or (2) subject to an income tax imposed by a foreign country that has a comprehensive tax treaty with the United States.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1