Just the day before, Tim Cook was facing the wrath of Capitol Hill, where lawmakers accused Apple and, by proxy, its chief executive officer, of dodging taxes on tens of billions of dollars in income via its foreign subsidiaries over the past four years. Show More Summary
CHICAGO (Reuters) - Higher-than-expected revenue from state income tax enabled Illinois to reduce its unpaid bills to $5.8 billion from $8.5 billion at the beginning of April, the state comptroller said on Wednesday while cautioning the improvement cou...
By Benzinga: By: The ETF Professor There are two certainties in life - death and taxes, and there are two certainties when it comes to income investing. First, dividends are great. Second, steadily rising dividends are even better. Simple...Show More Summary
Watch this short (less than 3 min.) video in which small business owners from communities across Oregon -- members of the Main Street Alliance of Oregon -- tell the Legislature that the Earned Income Tax Credit is spent in the community,...Show More Summary
Though they weren't grilled before a U.S. Senate subcommittee on Tuesday like Apple, Google and Yahoo rely on Irish subsidiaries to avoid taxes on billions of dollars in income, and they go one step further than Apple by utilizing offshore accounts.
The head of the European Commission has told the European Parliament he wants EU-wide exchange of income data as part of the fight against tax evasion.Jose Manuel Barroso said he would urge Wednesday's summit of EU leaders to support...Show More Summary
Over 8,000 French households paid taxes topping 100% of their incomes, according to French Finance Ministry data. Taxes on Some Wealthy French Top 100% of Income. You may scratch your head in disbelief. How is that possible? Stateside, you might guess it was the alternative minimum tax. In France, it was a one-time 2011 levy on incomes [...]
LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs.
Apple Chief Executive Tim Cook addressed a Senate hearing on Tuesday that was largely convened to explore how Apple uses foreign subsidiaries to allegedly shelter billions of dollars in income from U.S. taxes. Not surprisingly, Cook defended both Apple and its tax practices. “We pay all the taxes we owe — every single dollar,” Cook [...]
In the wake of a report from a Senate subcommittee showing that Apple avoids billions of dollars in taxes by routing a huge portion of its income through an Ireland-based subsidiary that has neither employees nor offices in Ireland, Apple CEO Tim Cook went before the Senate today to explain just why Apple does so well on April 15. Show More Summary
For more on corporate taxes, see Kyle's recent study "U.S. Multinationals Paid More Than $100 Billion in Foreign Income Taxes."
A Kansas man who owned a strip club received three years of federal probation for filing false tax returns and underpaying his federal income taxes. Kirk Roberts, 49, Salina, Kansas, was also ordered to pay $153,510, the full amountShow More Summary
Watch the latest video at video.foxbusiness.com For more on corporate taxes, see the recent study by economist Kyle Pomerleau "U.S. Multinationals Paid More Than $100 Billion in Foreign Income Taxes."
Apple paid no corporate income tax to any national government on tens of billions of dollars in overseas income over the past four years, Senate investigators found. The disclosure follows a lengthy examination of the technology giant's...Show More Summary
IR-2013-52, More Taxpayers e-file from Home in 2013 (May 20, 2013): Cumulative statistics comparing 5/11/12 and 5/10/13 Individual Income Tax Returns: 2012 2013 % Change Total Receipts 135,473,000 134,349,000 -0.8 Total Processed 130,261,000...Show More Summary
WASHINGTON — Apple Inc. Chief Executive Tim Cook strongly defended the company's tax practices Tuesday at a Senate hearing highlighting the technology giant's use of Irish subsidiaries to shelter billions of dollars in income from U.S. taxes.
Apple executives are being grilled by the Senate today over their policies to minimize their U.S. corporate income tax expenditures by keeping a mountain of cash offshore. Tons of companies do this. Everyone from Google to Coca ColaShow More Summary
This much is clear from the first hour of the Senate Permanent Subcommittee on Investigations hearing on Apple’s steps to avoid paying billions in U.S. corporate income tax: It will be primarily an exercise in righteous indignation for the senators … Continue reading ?
Apple faces the tax man.
Apple CEO Tim Cook is expected to testify before a Senate subcommittee Tuesday to refute charges the company paid no taxes on tens of billions of dollars in overseas income The Senate's Permanent Subcommittee on Investigations is expected to release findings Tuesday claiming Apple didn't pay taxes on at least $74 billion in overseas income. Show More Summary