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Technology CompaniesAppleApple to IRS: Bite Me

Apple to IRS: Bite Me

In 2007 Edward Kleinbard coined the “stateless income” phrase to describe a tax loop hole used by large multinational corporations. Select funds without residence are not taxed by any country. This $1.5 trillion dollar tax loop hole came to light in May of this year.

According to Reuters, the U.S. Internal Revenue Service is pursuing tax enforcement cases against companies over the issue of “stateless income,” a senior agency official said on Wednesday.

If the “stateless income” loop hole is closed then estimates are that Apple would owe over $9 billion dollars in taxes. Apple states using the tax loop hole is not illegal.

LPH
Layne Heinyhttp://www.layneheiny.com
LPH is a high school physics teacher interested in the Apple iPad and iPhone, Microsoft Surface, Tablet PCs, and other mobile devices. He resides with one large dog who begs for pizza, hamburgers, French fries, and anything else on the dinner table.

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