Wightman cautions that these schemes to avoid taxes
have been heard and dismissed by the federal courts and their use can result in greatly increased tax bills and criminal prosecution.
A powerful US Senate panel has accused Deutsche Bank AG (NYSE: AG) and Barclays Plc (LSE: BARC) of helping hedge funds avoid taxes
, according to Reuters.
According to the Treasury Department, such transactions not only enable companies to avoid taxes
by making nominal structural modifications, they also produce taxable gains for investors who often fail to report them.
taxes, because the information submitted clearly establishes the lack of a principal purpose to avoid taxes
under subtitle A or B of the Code.
After years of winking at the practice, Congress is suddenly up in arms about companies moving their headquarters to Bermuda to avoid taxes
The study says companies have migrated to the suburbs to avoid taxes
or governments perceived as unfriendly to business.
TA) had helped some of its customers avoid taxes
using Swiss bank accounts.
3 ( ANI ): Republican presidential candidate Mitt Romney's offshore investment strategy has not only allowed him to only avoid taxes
, but he also continues to make money from the company that he quit more than a decade ago, a new report has revealed.
The guidance intends to stop the spread of an abusive tax avoidance transaction using split-dollar life insurance, in which the parties attempt to avoid taxes
by using inappropriately high current term insurance rates, premium prepayments or other techniques to understate the value of taxable policy benefits.
Stanley Works has the potential to become the poster child for public outrage about overseas moves to avoid taxes
," says Blumenthal.
Previously, sellers could avoid taxes
only in two ways: Those 55 years old or older could take a one-time, $125,000 exemption; or they could use profits from the sale to buy a residence that cost as much or more than the previous home.