Please ensure Javascript is enabled for purposes of website accessibility

Footnotes: Herbalife Is Having Another Bad Day; Obamas’ Sterile Tax Return; Rich White Guy News | 04.11.14

Criminal probe launched into Herbalife [FT]

IAC Said to Buy More Tinder Shares at $5 Billion Valuation [Bloomberg]

The Obamas’ return is “pretty sterile,” said Anthony Nitti, a partner at Withum, Smith + Brown PC in Aspen, Colorado. [Bloomberg]

Man Who Owns 28,500-Square-Foot Apartment In NYC Opposes 5,531 Square-Foot-Home In Southampton [DB]

Sound familiar?

When a couple of old, rich white dudes navigate the tax system, Allan Sloan thinks it's funny. When Apple does it, he thinks it's bad. Here's the difference: 

Why am I amused by this, rather than enraged — the way I am enraged by companies like Apple, which call themselves American but invent repellent (albeit not illegal) ways to artificially suck earnings out of the United States via offshore subsidiaries that don’t have to pay any tax anywhere? Because cash-rich split-offs are specifically allowed by the Internal Revenue Code. Graham Holdings and Berkshire Hathaway aren’t pushing boundaries; they’re using something that Congress has specifically allowed. 

Oh! Congress allowed it. Totally fine, then. 

What The Fuck Does This Thomas Friedman Hockey Metaphor Mean? [Deadspin]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

illustration of an empty desk

House Speaker Kevin McCarthy Celebrates Defunding the Agents the IRS Wasn’t Gonna Be Able to Hire Anyway

Last year’s Inflation Reduction Act allotted a whole bucket of cash to the IRS ($80 billion) to modernize its ancient systems and bring on new employees, a lot of employees. At the time, we wondered where the IRS was going to find tens of thousands of people with a bachelor’s degree and 30 units of accounting […]

domestic cat in bed next to an alarm clock

Tuesday Morning Accounting News Brief: CPA Numbers Are Abysmal; PwC Blocked Government Inquiry | 5.30.23

This would have been your Monday news brief but we’re assuming at least a couple people got the day off yesterday. Welcome back to the grind. FT dropped this over the weekend: Candidate numbers for US accountancy exams drop to lowest in 17 years New figures from the American Institute of Certified Public Accountants showed […]