LPH submitted a new blog post:
Apple to IRS: Bite Me
Apple to IRS: Bite Me
Continue reading the Original Blog PostIn 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...