Bain Documents: Romney Offshore Investments Used 'Blockers' To Avoid Taxes

The private equity firm founded by Republican presidential candidate Mitt Romney made use of arcane techniques in several of its Cayman Islands-based funds to avoid U.S. taxes, according to a trove of Bain Capital's private audit and finance records made public on the website Gawker today. The audited financial statements of one of the Cayman Islands funds make note of the use of "blocker" entities, which are used to help retirement accounts and nonprofit entities avoid some taxes. Financial...Full Story
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