Closing Tax Law Loopholes

more+
less-

Tax law loopholes are causing the US government to waste billions of dollars every year yet so little effort is being done to close them. The bottom line is that due to various loopholes, the wealthy pay very little taxes percentage-wise whereas the middle class pay more. This also applies to profitable corporations. These loopholes are so rampant and have become such public knowledge that Warren Buffet, one of the richest men in the world, is famously known to declare that his secretary pays more taxes percentage-wise than he himself does.

One example of the tax loopholes allows subsidiaries of US corporations that have operations overseas to declare to the IRS that they pay taxes overseas while at the same time declare to the overseas governments that they pay taxes in the US.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Darrin Mish, Tampa Tax Attorney, The Law Offices of Darrin Mish, P.A. | Attorney Advertising

Written by:

more+
less-

The Law Offices of Darrin Mish, P.A. on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×