Foreign earnings of U.S. companies, especially those retained overseas as indefinitely reinvested, have received a lot of attention in recent years. Audit Analytics’ annual review of Indefinitely Reinvested Foreign Earnings – Balances Held By the Russell 1000 shows that the total disclosed amount … Continue reading
Category Archives: Indefinitely Reinvested Foreign Earnings
Untaxed Foreign Earnings top $2.3 Trillion in 2014
Note: This post has been updated to reflect a correction of an error. The total disclosed amount of indefinitely reinvested foreign earnings – which are not subject to US corporate income tax – continues to increase. From about $1.1 trillion … Continue reading
Tax Changes and Foreign Entities
Large multinational companies generate revenue from multiple regions, and have assets and employees throughout the world. Recently, there has been an uptick in the number of U.S.-based companies reincorporating abroad in ‘domiciles of convenience’ to benefit from various tax and … Continue reading
Moving to Europe? Auditor Tenure and Reg 537
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Corporate income taxes continue to be a hot topic in the news, especially with the recent controversy surrounding inversions. At the center of many of these debates are the foreign earnings that multinational companies claim to be indefinitely reinvested. Such … Continue reading
Overseas Earnings of Russell 1000 Tops $2 Trillion in 2013
A Spotlight on Permanently Reinvested Foreign Earnings Early this morning, the Permanent Subcommittee on Investigations of the Department of Homeland Security will hold a hearing on “Caterpillar’s Offshore Tax Strategy”. The purpose of the hearing is to examine the “structures and methods employed … Continue reading
Pres. Obama Urges Congress to Bring Earnings Home
In his State of the Union address early last week, President Obama indicated that he wants to bring indefinitely reinvested foreign earnings back, to be invested in American operations. So let’s make that decision easier for more companies. Both Democrats and … Continue reading
SEC: Taxes in Season
Last Friday, the Wall Street Journal published an interesting piece from Emily Chasan about the SEC, taxes and comment letters. In that article, Ms. Chasan reported that the SEC grilled a number of companies on their disclosures regarding the possible … Continue reading