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Corporate Tax Dodging
Brian Wingfield
follow
3
8-12-2008 11:07 AM
713 views
tags:
irs
,
tax
,
corporate
,
gao
Brian Wingfield
says:
Here's where the IRS might want to focus its efforts.
2 Comments
|
Add a Comment
8-12-2008
4:29 PM
masbury
Right. But I suspect it'll take more than the IRS. The implication is that Congress has been pressured into writing laws that allow corporations to escape paying taxes. Those laws need to be changed.
8-12-2008
5:57 PM
ratilfar
Pressure is not the word I would use. After all the Republicans where in charge from 94-06. Plenty of time to do the old tax loop-d-loop.
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/efa0d724-0d5f-46aa-b28c-d629fa9044e3/110434DD-AA2E-4DFA-8E44-777E6CAABE0E/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/corporations_income_tax" href="http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/corporations_income_tax" style="font-size: 11px;">news.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/corporations_income_tax"><P> WASHINGTON - Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/corporations_income_tax"><P>The study by the <SPAN id="lw_1218537120_0" class="yshortcuts">Government Accountability Office</SPAN>, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/corporations_income_tax"><P>Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/corporations_income_tax"><P>"It's shameful that so many corporations make big profits and pay nothing to support our country," said <SPAN id="lw_1218537120_1" class="yshortcuts">Sen. Byron Dorgan</SPAN>, D-N.D., who asked for the GAO study with <SPAN id="lw_1218537120_2" class="yshortcuts">Sen. Carl Levin</SPAN>, D-Mich.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/corporations_income_tax"><P>An outside tax expert, Chris Edwards of the libertarian <SPAN id="lw_1218537120_3" class="yshortcuts">Cato Institute</SPAN> in Washington, said increasing numbers of limited liability corporations and so-called "S" corporations pay taxes under individual tax codes.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/110434DD-AA2E-4DFA-8E44-777E6CAABE0E/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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