Burger King Buying Tim Horton’s, Will Avoid Paying US Taxes

By: Tuesday August 26, 2014 10:26 am

If you needed another reason to avoid Burger King restaurants, besides the food, there is the recent move by the fast food firm to relocate its corporate headquarters to Canada after acquiring Tim Hortons Inc. for roughly $11 billion. While Burger King Executive Chairman Alex Behring claims the move is “not being driven by tax [...]

Majority Of Fortune 500 Using Offshore Tax Schemes To Hide $90 Billion

By: Friday June 6, 2014 10:17 am

According to a new report from Citizens for Tax Justice and the U.S. Public Interest Research Group, the majority of America’s Fortune 500 companies are cheating the tax man to the amount of approximately $90 billion by using offshore tax havens. That cheating leaves the rest of US taxpayers on the hook to make up [...]

TurboTax Behind Campaign Against Free Tax Filing

By: Tuesday April 15, 2014 5:57 am

As Americans around the country pay TurboTax to file their taxes many are likely unaware that the company underwrote a stealth campaign against a program that might allow tens of millions of Americans to file their taxes for free and in minutes. Intuit, the parent company of TurboTax, launched a campaign against return-free filing which [...]

Report: Swiss Banks Used ‘Cloak And Dagger’ Tactics To Avoid US Tax Law

By: Wednesday February 26, 2014 5:58 am

Names’ Bond, Municipal Bond. According to a new report by the Senate avoiding taxes has become absurdly clandestine with Swiss bankers using “cloak and dagger” methods when advising their clients. Swiss banking giant Credit Suisse used every trick in the book to help 22,000 of its US customers evade the law. While some of the [...]

Silicon Valley Makes Another Attempt To Dodge Taxes With G20

By: Monday January 20, 2014 8:29 am

Silicon Valley likes to present itself as some hub of boot strapping entrepreneurs, nothing could be further from the truth. The entire economy is built on government subsidies and protection. As Steve Blank notes in his famous presentation The Secret History of Silicon Valley the place would not even exist without the Department of Defense [...]

Review Of IRS Data Shows Political Bias

By: Wednesday May 15, 2013 5:48 am

The Internal Revenue Service decided to target conservative groups for higher scrutiny while processing mainstream liberal groups without incident a review of IRS data shows. The IRS had already confirmed earlier allegations of political bias. As applications from conservative groups sat in limbo, groups with liberal-sounding names had their applications approved in as little as [...]

Leaked Files Expose Offshore Tax Havens

By: Thursday April 4, 2013 10:43 am

The International Consortium of Investigative Journalists has published a stunning amount of files related to offshore tax havens. The network is expansive including the super-rich in all their various forms from captains of industry to banksters to gangsters. Dozens of journalists sifted through millions of leaked records and thousands of names to produce ICIJ’s investigation [...]

Cayman Islands Investment Becomes Obstacle For Treasury Secretary Nominee

By: Monday February 11, 2013 5:49 am

Jack Lew’s nomination for Treasury Secretary was already proving to be contentious but now questions are being raised on Lew’s personal financial activities. Lew reportedly made an offshore investment in the Cayman Islands that may have been an attempt to avoid taxes. Treasury secretary nominee Jack Lew will face questions at his confirmation hearing next [...]

Taxpayers Picking Up Tab For Foreclosure Fraud

By: Friday January 18, 2013 5:36 am

As if more evidence was needed that Wall Street has rigged the game in its favor, the IRS is going to allow the banks that engaged in a massive nationwide program of mortgage fraud to write off their settlement: Consumer advocates have complained that U.S. mortgage lenders are getting off easy in a deal to [...]

Democrats Considering $1 Trillion In Revenues To Balance Cuts

By: Monday January 7, 2013 8:47 am

While Congressional Republicans have claimed tax increases are off the table, Democratic leaders are floating an idea of increasing tax revenues by $1 trillion by closing loopholes and other changes to the tax code. From The Hill: Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later [...]

The Fiscal Slope Exposes Deficit Scolds as Cowards

By: Friday December 21, 2012 10:00 am

Let’s just stipulate something for the record. If the Congressional Budget Office were asked to step in and score John Boehner’s “Plan B,” it would score as an increase to the deficit by about $4.9 trillion over ten yeas. If CBO scored the Obama plan, it would score as an increase to the deficit by [...]

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