• Revenue Offsets in Jobs Act Impact U.S. Persons with Offshore Investments and Certain Non-U.S. Investors
  • April 7, 2010
  • Law Firm: Kaye Scholer LLP - New York Office
  • The Hiring Incentives to Restore Employment (“HIRE”) Act (the “Act”), signed by the president last week, contains tax breaks for hiring new workers, an expansion of incentives for financing construction activity, and an extension of higher expensing limited for capital investments made by small businesses. It also includes a number of revenue offset provisions, several of which are designed to police offshore investments and trust interests held by U.S. persons and others, that will impact non-U.S. investors in U.S.-source investments...A brief summary of certain of these “offset” provisions follows.