Alphabet Inc.’s Google saved $3.6 billion in worldwide taxes in
2015 by moving 14.9 billion euros ($15.5 billion) to a Bermuda
shell company, new regulatory filings in the Netherlands reveal. Read More.
More than two dozen IRS employees traveled for more than half of
fiscal 2015, incurring total costs of more than $1.4 million,
according to a report from the staff of Senate Finance Committee
Chairman Orrin Hatch (R-Utah). Read More.
Republicans in the U.S. House of Representatives are accelerating
efforts to craft a sweeping tax reform bill for 2017 and looking
at ways to smooth the transition to a new tax system for some
businesses, the House Republican tax chief said on Wednesday. Read More.
Republican leaders managed to derail impeachment of IRS
Commissioner John Koskinen on Tuesday, forcing the debate back to
a committee for more study, where it will die when Congress
adjourns at the end of this year. Read More.
Over the years, Apple Inc. has become the poster child for U.S.
multinationals accused of sheltering overseas profits to avoid
the IRS. What’s gone largely unnoticed is that it’s been paid
more than half a billion dollars by the U.S. government to do
just that. Read More.