S. 2199 would amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation.

== Detailed Summary ==

<summary>
(Log inOffshore Deferred Compensation Reform Act of 2007 - Amends the Internal Revenue Code to editrequire the wiki and beinclusion in gross income for income tax purposes of employee compensation deferred under a nonqualified deferred compensation plan of a a nonqualified foreign corporation when there is no substantial risk of forfeiture of the firstrights to provide a detailed summarysuch compensation. Defines &quot;nonqualified foreign corporation&quot; 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 bill!)United States.
</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 10/18/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
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== Points in Favor ==

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== Points Against ==

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