Capitol Report: Tillerson has lost his job but retains his tax deferral

Rex Tillerson may have lost his job as secretary of state, but there’s no imminent tax worry, despite a popular misconception.

Before he was sworn in as secretary of state on Feb. 1, 2017, Rex Tillerson cashed out of all of the individual shares of stock he owned, including his restricted stock in Exxon Mobil XOM, -0.94% , where he retired as chairman at the end of 2016.

Tillerson asked ahead of time for the special waiver that allows presidential appointees required to sell assets that might create a conflict of interest when performing their official duties to defer the tax liabilities until the substitute, nonconflicted assets purchased with the proceeds are sold.

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