AIG joined The Carlyle Group and UBS in taking U.S. client money offshore to avoid taxes. UBS and AIG got caught. UBS paid a fine for its misdeeds. AIG's tax deduction was denied by the IRS.
UBS agreed to pay a $780 million fine, while AIG ponied up $306 million with the denial of their assertion. AIG is suing for the deduction, thus their money back. It seems nearly $200 billion in taxpayer money isn't enough.
UBS agreed to pay a $780 million fine, while AIG ponied up $306 million with the denial of their assertion. AIG is suing for the deduction, thus their money back. It seems nearly $200 billion in taxpayer money isn't enough.
