President Barack Obamas proposal to tax the offshore profits of U.S. corporations could encourage all but the largest companies to follow their cash hoard overseas, according to business leaders and tax lawyers.
The closing of IRS offices attached to U.S. embassies in London and Paris, as well as the consulate in Frankfurt, will allow the agency to reassign about a dozen employees to its domestic offices and save about $4 million a year.
DebugScreen: mobile
{
"author": {
"name": "David Kocieniewski",
"webUrl": "/author/profile/david-kocieniewski/",
"description": "",
"imageLarge": "https://secure.gravatar.com/avatar/f16d6fc2845f417ea0e93a3f2b6cd37d?s=136&d=mm&r=g",
"estimate": 2,
"social": [],
"articles": [
{
"uri": "/2015/02/04/obama-tax-plan-could-drive-inversions/",
"title": "Obama tax plan could drive inversions",
"byline": "David Kocieniewski",
"kicker": "",
"prettyDate": "February 04, 2015",
"timeToRead": "6 minute",
"image": {
"uri": "",
"width": "",
"height": ""
},
"authors": [
{
"webUrl": "/author/profile/david-kocieniewski/",
"name": "David Kocieniewski"
}
],
"kickerNode": [],
"summary": "President Barack Obamas proposal to tax the offshore profits of U.S. corporations could encourage all but the largest companies to follow their cash hoard overseas, according to business leaders and tax lawyers.",
"body": null
},
{
"uri": "/2015/01/14/irs-closing-overseas-tax-assistance-centers/",
"title": "IRS closing overseas tax-assistance centers",
"byline": "David Kocieniewski",
"kicker": "",
"prettyDate": "January 14, 2015",
"timeToRead": "3 minute",
"image": {
"uri": "",
"width": "",
"height": ""
},
"authors": [
{
"webUrl": "/author/profile/david-kocieniewski/",
"name": "David Kocieniewski"
}
],
"kickerNode": [],
"summary": "The closing of IRS offices attached to U.S. embassies in London and Paris, as well as the consulate in Frankfurt, will allow the agency to reassign about a dozen employees to its domestic offices and save about $4 million a year.",
"body": null
}
]
}
}