Facts: 1) Son of Boss is a tax avoidance scheme 2) Marriott engaged in Son of Boss 3) Romney was chairman of Marriott during the time it engaged in the tax scheme.
It's worth noting the Marriott family is also Mormon.
The ad, "Son of Boss," pivots off of a new CNN op-ed from tax lawyer Peter C. Canellos and tax expert Edward D. Kleinbard, which raises questions about Romney's involvement in, and awareness of, Marriott International's use of Son of Boss tax shelters as a member of the hotel conglomerate's board of directors during the 1990s.
As the op-ed points out, Romney is close personal friends with the Marriott family, and joined the Marriott board of directors in 1993. He served as the board's chairman of the audit committee from 1993 until 1998, the same time period in which Marriott used the "Son of BOSS," tax shelter, a transaction that was later labeled "abusive" by the IRS. According to Canellos and Kleinbard, Romney, as audit chair, would have been required to approve this transaction. Read more and see the Romney camp's response at Business Insider
