Move Over, Apple: 16 More U.S. Firms Stash Billions Overseas
Apple is under fire for keeping billions in profits overseas, where it doesn't have to pay U.S. taxes, but Apple is hardly the only big company dodging the IRS this way.
tax havens
Fiscal Cliff Protestors Take Aim at the Cayman Islands
In what's believed to be the first protest of its kind in the Cayman Islands, social justice group Code Pink demonstrated against the British territory's use as a tax haven. Their rallying cry: $150 billion a year could be recovered from these havens to end the U.S. budget deficit and avoid the "fiscal cliff."
Offshored Trillions: The Hidden Economy That's Robbing the World
Tax havens are big news in the U.S., but a recent study shows that, when it comes to offshoring cash to dodge taxes, Americans are amateurs. Globally, tax havens are used to hide an estimated $21 trillion, more than the entire U.S. GDP.
Is Fleeing the Country a Smart Tax Strategy for You?
Facebook co-founder Eduardo Saverin gave up his U.S. citizenship and emigrated to Singapore immediately before Facebook's IPO. For him, it's not a bad tax move. But could it be right for you?
Swiss Bank Accounts: Why Mitt (or an Average Joe) Might Want One
Mitt Romney's Swiss bank account is back in the news, and Americans are wondering why he has money in the famous tax haven. But if "Swiss bank account" makes you think of criminals, secret agents and tax dodgers, your ideas are more fiction than fact.
Germans Raid Credit Suisse in Tax Evasion Probe
German prosecutors raided all 13 Credit Suisse branches in the country on Wednesday as part of a probe into tax fraud. Earlier this year, German authorities acquired information on some 1,500 Credit Suisse customers who may have been using the Swiss accounts to avoid paying taxes.
Oil Companies Reap Billions in U.S. Tax Breaks
The oil industry is subsidized beyond virtually any other business in America, enjoying tax breaks that average $4 billion a year. The massive tax breaks reaped in BP's disastrous Deepwater Horizon project, which caused the worst offshore oil spill in U.S. history, are typical.
