September 28, 2022

Footnotes: Old Men Bite Into Bad Apple; Senate Finance, House Oversight Committees Hold Next Hearings; Really, IRS!?! | 05.20.13

Apple Avoided Billions in Taxes, Congressional Panel Says “Apple wasn’t satisfied with shifting its profits to a low-tax offshore tax haven,” said Senator Carl Levin, a Michigan Democrat. “Apple sought the holy grail of tax avoidance. It has created offshore entities holding tens of billions of dollars while claiming to be tax resident nowhere.” John McCain, the Arizona Republican who is the ranking member on the committee, added: “Apple claims to be the largest U.S. corporate taxpayer, but by sheer size and scale, it is also among America’s largest tax avoiders.” [NYT]

Here are the details for tomorrow's Senate Finance Committee hearing. [US Senate
 
And here are the details for the House Oversight and Government Reform Committee's hearing on Wednesday. [US House]
 
Carney: WH officials knew of IRS targeting but didn’t tell Obama [The Hill]
 
Rand Paul’s Claim of "Written Policy" Seems Like GOP Overreach [Jeremy Scott/Tax Analysts, Earlier]
 
Really, IRS!?! [SNL via TaxProf]

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.

Related articles

Monday Morning Accounting News Brief: PCAOB Arrives in Hong Kong; EY Evaluates Culture; Good Luck Hiring, IRS | 9.19.22

The Wall Street Journal talks about why the IRS is not going to have an easy time recruiting in this market. A review of EY’s practices after a staff member’s suicide will look at “workplace culture, healthy work practices and psychological safety” and be conducted by an external expert. Teams of PCAOB inspectors arrived at […]