IRS eyes companies with "stateless income"

07/29/2013 | Reuters · Reuters

The U.S. Internal Revenue Service is examining companies that realize profit not associated with any particular country. Tech multinationals such as Microsoft, Adobe Systems and Citrix Systems have been able to shield tens of billions of dollars in income from taxes each year. Erik Corwin, an IRS deputy chief counsel, told tax lawyers recently that a family of such cases is in the pipeline and is being examined by the agency.

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Reuters · Reuters