Senator Carl Levin said he is writing legislation to block U.S. companies from shifting their legal addresses overseas to lower their tax bills, and Senate Finance Chairman Ron Wyden said he is considering quick action.
The U.S. Internal Revenue Service probably can’t take regulatory action to stop companies from lowering tax bills through deals that put their legal addresses outside the country, IRS Commissioner John Koskinen said.
The U.S. government probably can’t take regulatory action to stop companies from lowering tax bills through deals that put their legal addresses outside the country, John Koskinen, commissioner of the Internal Revenue Service, said today.
The receiver in charge of liquidating WG Trading Co., the company allegedly used in a Ponzi scheme by former managers Paul Greenwood and Steven Walsh , sued to recover $21 million in profit from a Cooper Industries Inc. trust.
Cooper Industries Plc dropped plans to buy Laird Plc, the world’s largest maker of electronic shields for laptops and televisions, after failing to agree a price. Laird shares fell the most in almost three years.