Thursday, December 03, 2015

Tax Cheats Prospering

U.S. firms amass more untaxed foreign earnings:

Major U.S. corporations continue to amass increasing totals of foreign earnings held beyond the reach of the IRS as Washington efforts to revise the federal tax code remain stalled.

The ten firms with the largest stockpiles of indefinitely reinvested foreign earnings — revenue not subject to U.S. corporate income tax — collectively hold at least $724 billion of the funds, a review of financial filings shows...

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