Thursday, February 19, 2009

Paul Allen May See Stimulus Windfall -

Paul Allen, the billionaire co-founder of Microsoft and owner of the Portland Trailblazers basketball team, might save hundreds of millions in taxes over the next few years thanks to a provision in the economic stimulus legislation signed by President Obama Tuesday.

The provision is aimed at helping companies who are trying to restructure their debt, by delaying taxes that would otherwise be due when debt-holders agree to forgive a portion of the debt.

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